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Press Release

ABS Consulting Completes Design Review for New Approach to LNG Storage Tank Construction

December 2, 2013

(Houston) ABS Consulting recently completed design review services for an approval in principle of the design of Hyundai Heavy Industries' (HHI) Modular Liquid Natural Gas (LNG) Storage Tanks.

ABS Consulting reviewed the system design for HHI's Modular LNG Storage Tank and its construction with onsite assembly. During the design review process, ABS Consulting reviewed the design against applicable rules and standards. HHI's design methodology has been confirmed to be technically equivalent to standard onshore LNG storage tanks.

HHI is applying spin-off technology and concepts from LNG shipping to onshore storage for the construction and assembly of the Modular LNG Storage Tanks. With the demand for energy storage increasing, especially in remote and harsh environment areas, innovative approaches such as those of HHI create new possibilities for various industries.

These tanks will have most of their construction completed in the controlled environment of a shipyard with those sections then shipped to where they may be needed around the world. This approach allows for a minimal amount of construction effort and time at the final installation site.

Once the sections are onsite, HHI estimates that final assembly can be completed in about six months. In arctic areas where the construction season can be as short as three months, this can result in storage tanks being ready in as few as two building seasons.

"We are proud to help HHI with this new approach to LNG storage tank construction," said Tom Nolan, Vice President, Global Maritime Services at ABS Consulting. "This method may play a significant role in decreasing the time it takes to complete construction in arctic areas where extreme weather conditions limit the timeframe during which construction can take place."

HHI expects that the new modular LNG storage tank will reduce both the EPCC cost and the construction period. "It is to be one of the solutions to overcome excessive investment cost and can also enhance the compatibility of the ground LNG liquefaction plant in the developed markets such as Australia, Canada and the US," said Chun In-soo, COO of HHI's Industrial Plant & Engineering Division.

 

About ABS Group

ABS Group of Companies, Inc. (www.abs-group.com), through its operating subsidiaries, provides technical advisory and certification services to support the safety and reliability of high-performance assets and operations in the oil, gas and chemical, power generation, marine, offshore and government sectors, among others. Headquartered in Houston, Texas, ABS Group operates with more than 2,000 professionals in over 30 countries. ABS Group is a subsidiary of the American Bureau of Shipping (ABS), a leading marine and offshore classification society.

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