Accelerated Liquefied Natural Gas Production Essential for Transitioning to a Low-Carbon Future: Black & Veatch
New eBook launched ahead of Gastech 2023 as global competition to secure LNG supply remains intense
SINGAPORE--(Business Wire / Korea Newswire) September 15, 2023 -- The urgency to increase liquefied natural gas (LNG) production and improve the security of supply will be central themes at Gastech 2023 in Singapore as the world faces volatile impacts from climate change and the challenge of ensuring a reliable and sustainable energy supply.
In its new eBook, LNG: Fueling the Future, Black & Veatch examines the role LNG will play in the future of the global energy landscape. It details how the industry must scale beyond its current production capacity to balance increasing levels of renewable energy alongside near- and long-term consideration of alternative clean energy solutions, including hydrogen, nuclear, energy storage and carbon capture.
“Global economies are in the process of transitioning from a carbon-based economy to an electron- and molecule-based one. Finding the right energy mix for near-term requirements and long-term change will be critical,” said Mario Azar, Chairman and CEO, Black & Veatch.
“Liquefied natural gas is essential to moving the world towards a low-carbon future at a faster pace by stabilizing grids and enhancing their resilience,” added Narsingh Chaudhary, President, Asia Pacific and India, Black & Veatch.
Across maritime nations, including those throughout the Asia Pacific, LNG demand is growing as an energy source for large-scale gas-fired power generation. LNG for baseload power can bridge the gaps between the retirement of coal-fired power assets, the speed of renewable energy penetration and the emergence of newer and alternative clean energy solutions.
Scaling production, speed to market and maintaining competitive pricing are critical components for the industry to meet growing demands. Innovative approaches to technology and execution, such as floating LNG (FLNG) and modularization, are driving the industry forward and unlocking stranded gas in locations unsuitable for traditional large-scale facilities.
Black & Veatch is a pioneer in successfully delivering FLNG solutions. The company is or has been involved in five of the 10 FLNG projects in operation or under construction globally. It includes the first MOSS vessel conversion to an FLNG facility, the Golar Hilli Episeyo FLNG vessel, which was completed in Singapore.
FLNG technology offers speed to market, capitally efficient and innovative solutions for monetizing offshore gas reserves and the ability to develop nearshore facilities to export pipeline gas. The approach also increases construction efficiency and quality while risks are mitigated through modular design and construction in shipyards. Additionally, FLNG technology provides compact designs that enable smaller environmental footprints than onshore facilities.
Black & Veatch’s leadership in developing and constructing FLNG facilities is supported by its PRICO® technology, a proven liquefaction technology ideal for producing LNG that can be used for peak shaving, medium- and heavy-duty vehicles, industrial fueling, baseload power and offshore applications. PRICO®’s simplified operation and flexible configuration make it scalable for use in small, mid and large-scale facilities and enable innovative project solutions for onshore, offshore and nearshore LNG facilities.
At Gastech 2023, Azar will share global best practices on encouraging the development, deployment and scale-up of climate-impacting technologies that will guide the industry to a lower carbon and more sustainable future. Chaudhary will discuss the prospects of climate technology today and in the near future.
Contact Black & Veatch for more information.
· Download a free copy of the LNG: Fueling the Future eBook here.
· Black & Veatch has supported LNG infrastructure developments for more than 50 years, combining technology and know-how on LNG production, storage, regasification and send-out facilities with seamless solutions for design, procurement, fabrication and construction.
· Black & Veatch’s expertise and technology are integral to multiple FLNG projects including Eni’s (formerly Exmar’s) Tango FLNG, and three FLNG vessels developed by Golar LNG. On these projects, Black & Veatch provided topside engineering and procurement services.
About Black & Veatch
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2022 were US$4.3 billion. Follow us on www.bv.com and on social media.
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