Floating LNG projects benched as US shale floods market

Singapore

ONCE considered the future of gas production, floating liquefied natural gas (FLNG) projects have been firmly relegated to the backburner as global gas producers seek cheaper ways to compete with a surge in US shale supplies and slumping prices.

FLNG projects - mega tankers fitted with gas extraction and liquefaction facilities - allow producers to tap offshore gas wells and ship LNG without having to build costly pipelines to onshore plants.

Owners can move the vessels to new fields when production at an o…