Exclusive infographic: the world’s existing and planned FSRU projects
Once a year, LNG World Shipping produces a guide to the world fleet of floating storage and regasification units (FSRUs).
These floating import terminals are revolutionising global trade in LNG, making it possible for new and existing importers to take in new volumes faster and more cheaply than by adding land-based infrastructure.
Our map shows where the world’s FSRUs, chartered floating storage units (FSUs) and floating regasification units (FRUs) are based, showing existing vessels in green and vessels due to start firm charters in orange.
The map shows 23 FSRUs under contract, one due to start an FSRU contract in India next year and three FSRUs not chartered as floating import terminals. There are three FSUs and one FRU in service.
Four FSRUs are unfixed, although GDF Suez Cape Ann is due to become the first such vessel moored in India from next summer. And, although most FSRU shipowners book vessels against firm contracts, there are three unfixed FSRUs on order.
The orange areas on the map show the countries that plan to increase or introduce FSRU capacity in future. Future FSRU hotspots include – watch this space – Turkey, as well as Indonesia, the Indian subcontinent and Latin America.
Although several FSRU projects have been proposed in sub-Saharan Africa, just three – two in Ghana and one in Ivory Coast – have made progress in the last year. But if players targeting energy-thirsty Africa can find a workable business model, there are ready takers from the Canary Islands to South Africa, particularly for gas-to-power projects – however, there are worries, too, about some proposed developing-markets ventures’ credit-worthiness.
The Middle East is emerging as a hotspot, too, home to seven FSRUs, if we include Turkey-based Neptune.Abu Dhabi joined the LNG-importers’ club last August, taking delivery of the FSRU Excelerate.
Bahrain has formed a joint venture with Teekay LNG and other partners to import LNG using an FSU stationed off Hidd.
Who’s next? We expect Sharjah to join the FSRU party soon, having formed a partnership with Uniper.
Meanwhile, Indonesia presents a tricky trade-off between huge import demand and a challenging business environment. Japanese players are testing the waters here and other market newcomers will follow.