Engineering News

Pioneering Liquefaction Project Wins Approval
December 23, 2008

FLEX LNG and Mitsubishi Corp. have since June 2008 worked closely to develop the Progress LNG project together with Peak Petroleum Industries LTD of Nigeria and have during the month of November received approval from the Nigerian Department of Petroleum Resources for a floating LNG plant.  The parties previously anticipated that they would be able to reach Final Investment Decision (FID) by the end of December 2008, however, owing to the complicated nature of structuring the world's first floating liquefaction project, FLEX and Mitsubishi have agreed to review the time line while continuing to work together closely on FLNG projects.

FLEX and MC are pleased to communicate that the two companies are in strategic discussions regarding various other small scale LNG development opportunities where FLEX floating LNG would offer a viable solution for the commercialization of gas resources.

When commenting on the discussions to increase the strategic cooperation between the two companies, Chief Executive Officer of FLEX LNG, Philip Fjeld stated: "We believe that in a challenging financial and commodity market environment the competitive cost advantage provided by the FLEX LNG floating LNG solution takes on a position of even greater importance. In an industry, which is known for being capital intensive it is essential to have strong partners that share our long term vision with regard to advantages of the FLEX solution. We are excited about the prospects of expanding our already strong relationship with MC." When commenting on the discussions, General Manager, New Business Development Unit of Mitsubishi Corporation, Kazuyuki Mori stated: "We are pleased to have this opportunity to expand our relationship with FLEX LNG. Mitsubishi Corporation has an expectation in the potential of floating LNG, which we believe is an economically and technically viable solution to boost the development of stranded gas resources across the world and we are delighted to have a company of FLEX LNG's stature as our strategic partner in this endeavor."

Source: FlexLNG Ltd.

Engineering News Archive

 
// CAREER RESOURCES

Applicant Procedures
Job Seekers
Resume Help
Professional Organizations
Engineering Career Information
Engineering Colleges

// WHAT WE DO
Recruiters for
Professionals in the Chemical
& Pharmaceutical Industries
We recruit exclusively for Engineers and Operations/Maintenance Management Personnel in the following areas:
Specialty chemicals
Bulk chemicals
Commodity Chemicals
Petrochemicals
Fine chemicals
Agrochemicals
Industrial gases
Surfactants
Fertilizers
Solvents
Coatings
Polymers
Pharmaceuticals
Refinery
Career Center | FAQs | Privacy
SESI Corporate Headquarters (954)755-3121 ext 109
© Search Enterprises, Inc. All rights reserved.
Industry News Career Center FAQs Submit a Job About Search Enterprises Submit a Resume Candidates Job Opportunities Search Enterprises Home