April, known for its spring showers, provided InnovOil with a deluge of oil and gas technology this month. A trip to Oslo and the Subsea Valley (SSV) Conference offered incredible insight into some of the most interesting projects and equipment in the Norwegian and North Seas – more of which we will cover in the coming months. Our tour included a view of the past and future of Norwegian energy, from the foundation of the country’s “second industrial revolution” laid by Norsk Hydro in 1905, to the innovative subsea and technology companies now building on that legacy. With the support of groups like SSV, the country’s NOC Statoil and the Norwegian government, delegates to the conference seemed optimistic that new oil and gas projects would be measurably smarter, more productive and more cost-effective than before.
Neither is this the only opportunity they see. Even though oil and gas remains central to the country’s economy, many of these firms are looking to a more diverse future, applying their solutions to the marine energy, agriculture and research sectors, helping to ensure that technological innovation is sustainable.
This month, however, our attention focuses on technologies driving the world’s LNG market. With LNG supplies having averaged 6.2% growth between 2000 and 2015, and trade having totalled 258 million tonnes in 2016, according to the International Gas Union (IGU), the sector continues to hold considerable opportunities for innovators.
Vessels in particular have seen a flurry of activity, from LNG fuel conversions to loading and transfer technologies. That pool is expanding too: as of January 2017, the global LNG shipping fleet comprised some 439 vessels, including FSRUs and floating storage units. During 2016, 31 newbuilds sailed out of global shipyards, a 7% increase on the previous year, the IGU notes.
Our in-depth features include a look at DSME and DNV GL’s latest carrier design, Chart Industries’ involvement in innovative marine LNG projects, Wärtsilä’s new floating LNG transfer system and much more.
Elsewhere, we profile the latest FPSO proposed by engineers INTECSEA – a design which, its proponents say, could shave over US$1 billion from field development costs compared with conventional floating production options. We hear more from lead engineer Alaa Mansour inside. In addition, we look to the frontiers of the Russian Arctic and even further to the rise in satellite and orbital technologies which are now helping oil and gas operators across the world.
We are pleased to present the May issue of InnovOil.