Shell To Build World’s First Floating LNG Plant
Last week, we wrote of our concern that China is taking greater leaps forward in green tech than the United States. It sparked an interesting conversation, including a comment by one reader that framed the point well: “China’s green-tech market could reach $1 trillion by 2013- much catch up to do!”
Shell, the oil giant, is evidently responding to the growing interest in Asia for cleaner-burning fuels. The company has announced plans for the world’s first floating liquefied natural gas plant, to be built off Australia. The massive vessel will measure nearly 1600 feet long, 250 feet wide and weigh over 600,000 metric tons. The floating LNG behemoth will cost an estimated $5 billion and generate 3.5 million tons of LNG each year.
According to Shell, the plant will help satisfy the increase in demand for LNG in rapidly industrializing Asian countries, most notably India and, of course, China.