ABS grants AIP for ready-to-convert FLNG hull design

Myung-Jae Joo, Country Manager of Korea ABS (right), presents Jae-Eul Kim, Senior Vice President, Shipbuilding Division at HHI, the a certificate acknowledging Approval in Principle of the Newbuilding Conversion FLNG hull design

SEPTEMBER 11, 2017 — Classification society ABS has granted Approval in Principle (AIP) to South Korean shipbuilder Hyundai Heavy Industries’ Newbuilding Conversion FLNG (floating liquefied natural gas) hull design.

“The Newbuilding Conversion FLNG hull design can be constructed for about half the cost as compared to a standard FLNG hull,” says Jae-Eul Kim, HHI Senior Vice President, Shipbuilding Division. “In the current difficult energy market, a Ready-to-Convert FLNG hull with ABS AIP gives the FLNG market an efficient approach, with competitive price and schedule, helping investors take financial investment decisions.”

In addition, a Newbuild Conversion FPSO Hull concept design is under development, following the same process.

ABS and HHI collaborated with the objective of developing a technically feasible and class compliant FLNG hull design, using the latest industry trends while maintaining high safety standards. The ABS AIP demonstrates the design substantially complies with class and regulatory requirements and minimizes risk to project schedules and safe operations, giving regulatory agencies and other key stakeholders confidence in the design.

“ABS has a strong history of collaborating with the offshore industry to evaluate novel designs that enable industry efficiency,” says ABS Executive Vice President, Global Offshore Ken Richardson. “Our work with HHI is another example of ABS’s technical leadership promoting safety in innovative concepts.”