ABB and Wison Offshore & Marine (WOM), a technology and solution provider focusing on clean energy, have signed a Memorandum of Understanding (MoU) to collaborate on the development and implementation of floating liquefied natural gas (FLNG) facilities worldwide. FLNG facilities makes the production, liquefaction, and storage of natural gas possible at sea, from where it can be shipped directly to customers around the world. By optimizing and standardizing the FLNG unit design, ABB and WOM aim to significantly improve the production efficiency of LNG at sea. WOM’s competence as a premier provider of turnkey engineering, procurement, construction, installation and commissioning (EPCIC) to the FLNG market will be coupled with ABB’s expertise in integrating electrical, control and safety systems. Valued at over USD 14,187 million in 2020, the global FLNG market is projected to reach a value of over USD 104,281 million by 2031, growing at a CAGR of 20.1%. Mr Wei Huaqing, Assistant President of WOM said: “The FLNG market continues to grow. We are pleased to be working with ABB and look forward to leveraging our complementary expertise to deliver more value for FLNG customers around the world. By combining our bespoke offerings, we believe we can increase productivity in greenfield developments and in doing so improve overall CAPEX efficiency.” The agreement will also utilize ABB’s unique project methodology, Adaptive Execution™, which offers customers complete visibility of their project, from start to finish, via a single, streamlined and centralized approach.