Wison Collaborates with CCS Wuhan Rules & Research Institute on China’s FSRU Industry Standards

Shanghai, China (5th December 2017) - Wison Offshore & Marine (“Wison”) today announced that it will collaborate with China Classification Society (CCS) Wuhan Rules & Research Institute on various fronts of floating LNG storage and re-gasification facility(“FSRU”) developments in China under a strategic cooperation agreement. Pursuant to the agreement, both parties will embark on a wide range of joint efforts in development and optimization of FSRU products, formulation of relevant technical standards, design and review, joint research of new technologies, exchange of know-how and talent development for the industry. Further to improving China’s FSRU construction standards, such cooperation is set to promote commercial application of floating LNG solutions in the country, nurturing LNG development in this huge market.

China has been hit by gas-supply shortages this winter triggered by accelerated shift away from coal as environmental requirements become increasingly stringent. In consequence, domestic LNG prices have risen sharply. To foster the competitiveness of natural gas in China’s energy landscape for steady growth in the longer term, the industry urgently needs expedited build-up of industry standards and value chain.

As the turnkey service provider for the first FSRU ever constructed in China, Wison has accumulated considerable project experience in floating LNG facilities.  While recently, Wison has launched a full spectrum of innovative solutions across the LNG value chain from gas liquefaction, LNG transportation and delivery, storage and re-gasification, to gas power. Mr. Ying CUI, CEO of Wison Offshore & Marine said, “We’re delighted to partner with CCS Wuhan Rules & Research Institute whose strengths in technical research can be leveraged in our joint contributions to the formulation of FSRU technical standards in China. We hope floating LNG import solutions that have been widely adopted in global market can better serve Chinese market, offering a more flexible and economical option to access LNG supply. ”

As a key institute directly under China Classification Society, CCS Wuhan Rules & Research Institute specializes in LNG value chain studies with a special focus on technical standard specification for LNG marine applications, FSRUs, etc. Mr. Luo Xiaofeng, Director of CCS Wuhan Rules & Research Institute, commented, “We are very pleased to work with Wison whose practical project experiences will bring great value to our research. Based on common understanding of industry trends, we both are fairly confident in the promising future of our strategic partnership.”