NO: DELENG / 2017 / 70663
official media partner of national maritime foundation
HHI and KSOE collaborate to develop South Korea's first ammonia FSRU with LR approval
By SEA AND COAST | 27/04/2023
South Korean shipbuilders HD Hyundai Heavy Industries (HHI) and Korea Shipbuilding & Offshore Engineering (KSOE) have collaborated with Korea National Oil Corporation and Lloyd's Register to develop the country's first ammonia floating storage and regasification unit (FSRU). The HHI ammonia FSRU, which has received approval in principle from Lloyd's Register, can store liquefied ammonia transported from production areas and perform regasification to supply shipowners and operators.
The awarding of an approval in principle follows the signing of a memorandum of understanding in December 2022 for a joint development project. HHI performed the basic design of the unit, while KSOE developed the key equipment for the regasification system and Korea National Oil Corporation provided technical information on the construction of domestic clean ammonia acquisition and storage infrastructure projects.
Sung-Gu Park, North East Asia President of Lloyd's Register, highlighted the significance of the development of FSRUs that can respond flexibly to the operating environment, particularly in light of the increasing marketability of ammonia. FSRUs have emerged as a viable and cost-effective alternative to meet the growing demand for liquefied gas storage and regasification, as they are significantly cheaper to operate than onshore plants.
Last year, Japan's Mitsui OSK Lines (MOL) also completed a concept study on ammonia FSRUs in collaboration with Mitsubishi Shipbuilding. The development of the HHI ammonia FSRU is expected to significantly contribute to the advancement of ammonia-FSRU technology and Korea National Oil Corporation's ammonia business.