Buoyed business: FLNG developers undeterred by a decade of disappointments

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The start-up of the Coral-Sul floating LNG (FLNG) project offshore Mozambique in November was a milestone for the FLNG sector, taking the aggregate capacity of the six floating liquefaction projects in operation into double figures. The reality, however, is that the concept has so far failed to live up to the promise of a decade ago. Only a few of the projects proposed have come to fruition, while the one with the highest profile – Prelude FLNG offshore Australia – has suffered setback after setback. Nevertheless, most developers seem undaunted, thanks in part to the boost imparted to the LNG industry by recent geopolitical events.

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