August 2019 Monthly Floating Production Systems Report

August 26, 2019

Our August WER floating production report highlights the known floating liquefaction (FLNG) projects in the planning stage and the development status of each. We are tracking around 20 floating liquefaction projects in various stages of planning as of mid-2019. All are possible candidates for use of an FLNG – though the investment decision is generally 3+ years out and in most projects there are major financing barriers to get past and often commercialization options other than FLNG. But a portion of these projects will likely progress to FLNG contracts over the next five years – with the number of orders dependent on future underlying dynamics in the global LNG market. We also highlight the potential of Petrobras being privatized – a development that could free the company of intrusive government directives and boost FPSO contract opportunities in Brazil. Meanwhile, despite increased risk of oil supply disruption in the Mideast, oil prices have fallen over the past month as concerns over a future demand/supply imbalance weigh on the market. All is discussed in the August report. Also in the data section of the report are details for 219 floater projects in the planning stage, 43 production or storage floaters now on order, 301 floating production units currently in service and 32 production floaters available for redeployment contracts. Charts in the report update the location where floating production and storage systems are being planned, operating and under construction. Accompanying excel spreadsheets provide the report data in sortable format. Information is current as of 23 August.

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