Hyundai and Korea Shipbuilding Achieve Approval in Principle for Korea’s First Ammonia FSRU

Hyundai and Korea Shipbuilding Achieve Approval in Principle for Korea’s First Ammonia FSRU

(IN BRIEF) Hyundai Heavy Industries (HHI) and Korea Shipbuilding & Offshore Engineering (KSOE) have received Approval in Principle (AiP) from Lloyd’s Register (LR) for their ammonia Floating Storage Re-Gasification Unit (FSRU) in Korea. The ammonia-FSRU can store liquefied ammonia transported from production areas and perform regasification to supply to shipowners and operators. The FSRU is significantly more affordable to operate than onshore plants and is part of a Joint Development Project (JDP) between LR, Korea National Oil Corporation (KNOC), HD HHI KSOE. HHI performed the basic design of the unit while KSOE developed the key equipment for the regasification system and KNOC provided technical information on the construction of domestic clean ammonia acquisition and storage infrastructure projects. This AiP follows a number of recent projects between LR and HHI, including AiP for its new Onboard Guidance System and AiP for two container ships equipped with measures for mitigating container loss at sea.

(PRESS RELEASE) LONDON, 26-Apr-2023 — /EuropaWire/ — LR, Korea National Oil Corporation, HD Hyundai Heavy Industries and Korea Shipbuilding & Offshore Engineering are joint development partners behind Korea’s first ammonia FSRU.

Lloyd’s Register (LR) has awarded Approval in Principle (AiP) to HD Hyundai Heavy Industries (HHI) and Korea Shipbuilding & Offshore Engineering (KSOE) for its Ammonia Floating Storage Re-Gasification Unit (FSRU), the first of its kind in Korea.

HHI’s ammonia-FSRU will store liquefied ammonia transported from production areas and can perform regasification to supply to shipowners and operators. FRSUs are an increasingly viable alternative to meet the growing demand for liquefied gas storage and regasification and are significantly more affordable to operate than onshore plants.

The AiP follows the signing of a Memorandum of Understanding (MoU) in December 2022 for a Joint Development Project (JDP) between LR, Korea National Oil Corporation (KNOC), HD HHI KSOE.

As part of the JDP to develop the Ammonia FSRU, HHI performed the basic design of the unit whilst KSOE developed the key equipment for the regasification system and KNOC provided technical information on the construction of domestic clean ammonia acquisition and storage infrastructure projects.

Sung-Gu Park, North East Asia President of Lloyd’s Register, said: “The development of FSRUs that can respond flexibly to the operating environment in a situation where the marketability of ammonia is increasing is an important element in the industrial value chain. It is expected that this AIP achievement will greatly contribute to leading HD Hyundai’s ammonia-FSRU technology and Korea National Oil Corporation’s ammonia business.”

Seung-ho Jeon, Head of Technology, HD Hyundai Heavy Industries, said: “We developed the first ammonia-FSRU in Korea based on HD Hyundai Heavy Industries differentiated FSRU technology accumulated over a long period of time. We will focus our capabilities on technology development so that we can lead the way.”

Beom-hee Ahn, Head of ESG, Korea National Oil Corporation, said: “This development will be one of the major solutions to solve pending issues in the field of clean ammonia storage infrastructure. We will take the lead in building a carbon-free and clean energy ecosystem through continuous cooperation with HD Hyundai and Lloyd’s Register.”

The AiP follows a number of recent projects with HHI including AiP for its new Onboard Guidance System, AiP for two container ships equipped with measures for mitigating of container loss at sea, Software Conformity Assessment for HHI’s Digital Hi-PIX Digital Twin which predicts the structural integrity of an IMO Type B fuel tank.

LR enjoys strong relationships with Korean stakeholders including HHI Group, which celebrated its 50th anniversary last year, alongside LR’s 60th anniversary for operations in the Republic of Korea which was marked LR’s ranking as the number one classification society on classification technical service by the Korea Offshore and Shipbuilding Association (KOSHIPA).

Media Contact:

Kieran Wilson
Media Relations Lead
M +44 (0)7816209736
E kieran.wilson@lr.org

SOURCE: Lloyd’s Register