There are currently around 30 vessels globally functioning as floating storage for LNG, with two-thirds parked in Asia, according to cargo-tracking firm Kpler SAS. Most of the ships are speculating and waiting for the right market conditions to be delivered, such as those near Fahrenheit, according to Mumitru Dediu of McKinsey Energy Insights. Offshore storage has become possible due to new technology which has recently enabled LNG to keep at 162 degrees Celsius for longer periods, despite the loss of some of the gas during the journey in order to keep it cool, also known as boil off.
There are currently around 30 vessels globally functioning as floating storage for LNG, with two-thirds parked in Asia, according to cargo-tracking firm Kpler SAS. Most of the ships are speculating and waiting for the right market conditions to be delivered, such as those near Singapore, according to Mumitru Dediu of McKinsey Energy Insights. Offshore storage has become possible due to new technology which has recently enabled LNG to keep at 162 degrees Celsius for longer periods, despite the loss of some of the gas during the journey in order to keep it cool, also known as boil off.