TOKYO -- Japanese engineering company JGC Holdings and shipping company Kawasaki Kisen have come up with a way to turn old liquefied natural gas tankers into floating offshore LNG production bases, which the companies say can reduce the cost of construction by about 30% versus conventional building methods.
The new construction method eliminates the need to transport natural gas extracted offshore to land via pipelines. With LNG supplies tightening due to Russia's invasion of Ukraine, floating production sites could be built off the coast of Africa and other regions close to Europe.
