04/06/2021 | Press release | Distributed by Public on 04/06/2021 05:53
6 Apr 2021
Babcock's LGE business, the market leader in liquefied gas solutions, has secured a further five supply contracts for its Liquefied Natural Gas (LNG) Boil-Off Gas (BOG) reliquefaction technology, ecoSMRT®, bringing the total to 50 in less than three years. The latest ecoSMRT® orders will be delivered to newbuild LNG carriers built at Hyundai Heavy Industries (HHI).
Four of the five LNG carriers to be fitted with ecoSMRT® systems are for charter to Shell Tankers (Singapore) Private Limited ('Shell') and will be delivered from 2022 to multiple ship owners. This will bring the number of Shell-chartered ecoSMRT® vessels to over 20.
A further order has been placed with ship owner Sovcomflot for its latest LNG carrier newbuild at HHI. This order marks the 50th contract win for ecoSMRT® - a significant milestone in the rollout of this ground-breaking LNG reliquefaction technology.
Developed to combat inefficiencies in existing BOG reliquefaction systems, ecoSMRT® has a proven track record with 12 systems in service by the end of March 2021. All 12 are performing as designed and achieving market-leading reliquefaction capacity, offering unparalleled performance to ship owners, charterers and operators.
Neale Campbell, Babcock LGE Managing Director, said: 'We are delighted to have secured these latest contracts at Hyundai Heavy Industries and to be providing our innovative technology again to Shell and Sovcomflot, both of whom have multiple ecoSMRT® units in operation or on order.
'There are many benefits of the ecoSMRT® system; 30% increased efficiency versus competing systems, market-leading reliquefaction capability and low maintenance requirements. ecoSMRT® is an important technology for today's modern LNG carriers.'
With each system capable of reducing CO2 emissions by up to 19,000 tonnes per year, ecoSMRT® also plays an important role in managing LNG carrier emissions. The system maximises vessels' operating lifecycle and supports the marine industry's transition towards a net-zero future.
2020 was another successful year for Babcock LGE, with multiple liquefied gas handling and reliquefaction system orders across the LPG, LNG and ethane markets, as well as retaining the position as new-build market leaders for LPG Fuel Gas - ecoFGSS™. With these latest project awards, as well as multiple development projects currently underway - all geared towards the net zero carbon future of maritime - the business is in an exciting phase of development.