Digital Optimization of Floating LNG Plants
With global demand for liquefied natural gas (LNG) at near-peak levels – Bloomberg New Energy Finance (BNEF) sees global LNG demand growing to 305MMtpa in 2018 and 490MMtpa by 2030 – energy companies are investing in floating LNG (FLNG) in a bid to meet demand, but at reduced cost. A flexible midstream asset, FLNG avoids the costly pipeline infrastructure typically required to move gas onshore. The vessel typically offers processing equipment to accommodate a variety of gas conditioning environments, including storage, enabling O&G companies to generate more profits from offshore LNG reserves. FLNG is moveable, allowing it to evade extreme weather, for example, and can be relocated and reused. Not surprisingly, technology is playing an important role in the design and operation of these floating assets. Digitalization in the form of Industrial Internet of Things (IIoT), artificial intelligence (AI) and digital twins have the potential to reduce costs, improve safety and optimize...