Crown LNG revealed this in a corporate update released on Wednesday.
The company delayed the decision on the Grangemouth FSRU project, as it said in July it expects to decide on the facility in late 2024.
Crown LNG did not provide further details in the update.
In July, the company selected UK-based IKM Engineering & Environmental Consultants as its partner for the design and engineering of the FSRU project.
IKM’s mandate will include the pre-FEED and FEED (front end engineering and design) phases, including project management and execution planning.
Specific services to be provided include consenting, overall process design, facility layout optimization, detailed engineering, and procurement support, Crown LNG said.
The Grangemouth FSRU project will have a capacity of 5 mtpa and will cost about $533 million. It will supply a natural gas-fired power plant.
Crown LNG said the Grangemouth project, located on the east coast of Scotland, seeks to support the UK’s increasing drive for energy security post-Brexit and in the context of geopolitical impacts on energy markets.
Currently, the UK relies on just three facilities for all of the country’s LNG imports, which increased 74 percent from 2021 to 2022, the company said.
The three onshore LNG import terminals include South Hook LNG, Dragon LNG, and Grain LNG.
Crown LNG said that a site study for location of the import facility and LNG vessel access has been completed, and Crown will progress with the consenting process with the Scottish and UK governments.
Kakinada
In July, Crown LNG and Catcha Investment completed their previously announced agreement for a business combination that resulted in Crown becoming a US publicly listed company.
Crown said at the time it is advancing development of two projects toward FID – Kakinada, on the east coast of India, and Grangemouth.
According to the update on Wednesday, Crown LNG re-affirmed its target of Q3 2025 for the project in Kakinada, India.
This terminal will utilize gravity-based structure (GBS) facilities, and will have a capacity of 7.2 mtpa.
It is expected to cost about $1 billion.
US LNG export facility
Crown LNG also said in the update it is “actively exploring and evaluating opportunities for strategic acquisitions and inorganic growth.”
This would “enable near-term revenue generation and an expansion of our capabilities to include elements of the LNG value chain beyond regasification and liquefaction,” the firm said.
“As part of our ongoing discussions with production partners, Crown is also exploring the development of building export facilities in key production markets like the United States of America and Canada,” the company said.
Crown LNG said this approach would “complement our existing access to pipeline networks in key growth markets for LNG consumption.”
The company previously said it plans to develop LNG projects in Vung Tau, Vietnam, and Newfoundland, Canada.
The FSRU-based project in Vietnam would have a capacity of 10 mtpa and cost about $1.2-1.3 billion, while the liquefaction project in Canada would have a capacity of 9 mtpa and cost $8-9 billion, according to Crown.
