On January 16, the Floating Storage and Regasification Unit (FSRU) remolded with the vessel Galea, which was constructed by COSCO SHIPPING Heavy Industry (Shanghai) for China Petroleum Pipeline Engineering Co., Ltd., was successfully delivered. This marks the first MOSS spherical tanker-type liquefied natural gas carrier (LNGC) conversion project in China and also the first “Belt and Road” energy project between a Chinese enterprise and the EU.

FSRU stands for Floating Storage and Regasification Unit. It is also known as floating regasification unit or floating LNG regasification unit. Commonly referred to as LNG-FSRU, it is a specialized equipment that integrates LNG (liquefied natural gas) receiving, storage, transfer, regasification, and other functions. It is equipped with a propulsion system and has the capability of an LNG carrier.

Originally designed as an LNG carrier, Galea has been transformed to include multiple functions such as LNG receiving, storage, transshipment, regasification, and export of liquefied natural gas (LNG). This allows it to be connected to land-based pipeline networks and operate as an “offshore natural gas plant.”

Named after the Greek god Prometheus, the renovated ship measures 296 meters in length and 46 meters in width. It has a capacity of storing 137,000 cubic meters of LNG and is equipped with advanced technology. The vessel will serve the port of Vassilikos in Cyprus, which is strategically located in the “Belt and Road” region. This project represents the largest undertaking in Cyprus in recent years and is a crucial component of the country’s national energy strategy. It also plays a significant role in meeting the EU’s emission reduction targets and increasing the share of natural gas in power generation. By utilizing this innovative solution, Cyprus aims to reduce carbon emissions by 30% and decrease power generation costs by 15-25%.

During the execution of the project which followed the EPC contracting mode, COSCO SHIPPING Heavy Industry successfully completed key tasks such as front-end design, basic design, detailed design, and production design. It also managed international and domestic procurement of materials and equipment, construction and hoisting of regasification modules and power modules, on-site transformation, equipment installation and commissioning, gas testing, and sea trials, and ensured a 20-year life extension with no docking maintenance for the ship.

The successful delivery of this project demonstrates that COSCO SHIPPING Heavy Industry Shanghai possesses the capability to operate across the entire chain of LNG carrier FSRU conversions, including design, procurement, construction, installation, commissioning, and gas testing. This accomplishment will further enhance the brand recognition and competitiveness of both COSCO SHIPPING Heavy Industry and China Petroleum Pipeline Engineering in the global clean energy market.