Queensland LNG developer wins preliminary approval to supply with new storage technology
A Queensland liquefied natural gas (LNG) developer has won preliminary approval to supply the alternative transport fuel with new storage technology.
Gladstone LNG says it has moved closer to obtaining its LNG development licence after regulators accepted the company’s so-called Membrane LNG tank technology.
The company plans to install a 200,000 cubic metre Membrane LNG Tank at its Fisherman’s Landing site in Gladstone, to be operational by 2012.
Managing Director Maurice Brand says the decision is a massive boost to plans for LNG export particularly.
“This is a fantastic outcome for GLNG, both in terms of achieving our capital cost targets, with a cost reduction of approximately $100 million, and a schedule saving of possibly six months over a conventional nickel steel tank and helps to facilitate its first LNG shipments in late 2012,” Brand says.
To date close to 30 such tanks have been built globally, including in major LNG importers Japan and Korea.