China’s Largest Home-Built Floating LNG Facility Sets Course for West Africa
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Floating liquefied natural gas units (FLNGs) allow gas extracted offshore to be liquefied and stored at sea, eliminating the need for onshore plants. Photo: Bao Zhiming
A vast floating liquefied natural gas facility built by China’s Wison New Energies Co. Ltd. set sail Tuesday for Africa’s west coast, marking the country’s largest move yet into an industry once dominated by Western and Asian rivals.
The vessel, known as the Nguya FLNG, is the centerpiece of Italian energy giant Eni’s Congo LNG project. Measuring 376 meters in length and 60 meters in width, it can store 180,000 cubic meters of liquefied natural gas and produce 2.4 million tons a year — the fourth-largest output among operating FLNGs worldwide.
You've accessed an article available only to subscribers
VIEW OPTIONS
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Subscribe to both Caixin Global and The Wall Street Journal — for the price of one.
- RELATED
Share this article
Open WeChat and scan the QR code
- DIGEST HUB
Digest Hub
Back
Explore the story in 30 seconds
- China’s Wison New Energies launched the Nguya FLNG, a massive vessel for Eni’s Congo LNG project, capable of producing 2.4 million tons of LNG annually—the fourth largest globally.
- Chinese shipbuilders now hold 30% of the FLNG newbuild market, with Wison securing contracts worth over $3 billion since 2022; global offshore engineering orders hit $27.2 billion in 2024, the highest in a decade.
- Industry growth is driven by global energy diversification, with projected demand for 20–30 new FLNGs by 2030, but financing and technology uncertainty pose risks.
AI generated, for reference only
Who’s Who
- Wison New Energies Co. Ltd.
- Wison New Energies Co. Ltd. is a Chinese company that is a major player in the floating liquefied natural gas (FLNG) industry. They have built the Nguya FLNG, one of the world's largest, and are responsible for three of the ten new FLNGs under construction globally, holding a 30% market share. The company is expanding into floating power plants and offshore wind equipment.
- Eni
- Eni, an Italian energy giant, is a key player in the Congo LNG project. It contracted Wison New Energies Co. Ltd. to build the Nguya FLNG, a massive floating liquefied natural gas facility. This facility is central to Eni's project and represents a significant collaboration with Chinese shipbuilding capabilities in the FLNG sector.
- Yantai CIMC Raffles Ocean Technology Group
- Yantai CIMC Raffles Ocean Technology Group is a Chinese shipbuilder that has recently entered the floating liquefied natural gas (FLNG) sector. In September of last year, they secured $1.6 billion in contracts to construct two FLNG units for Golar LNG.
- Genting Group
- Genting Group, a Malaysian conglomerate, engaged in the FLNG sector by placing a $1 billion order with Wison New Energies in June 2024. This contract was for a smaller floating liquefied natural gas (FLNG) unit.
- Golar LNG
- Golar LNG is a company that has commissioned the construction of floating liquefied natural gas (FLNG) units. Specifically, Yantai CIMC Raffles Ocean Technology Group secured $1.6 billion in contracts to build two units for Golar LNG in a deal made last September.
- Samsung Heavy Industries Co. Ltd.
- Samsung Heavy Industries Co. Ltd. holds a significant market share in the FLNG sector, responsible for five out of the 14 FLNGs either operating or under construction worldwide. This places them ahead of Wison New Energies Co. Ltd., which is responsible for three newbuilds, securing Samsung Heavy Industries as a leading contractor in the industry.
- Petróleo Brasileiro S.A.
- Petróleo Brasileiro S.A., also known as Petrobras, is a Brazilian company. It plans to invest $111 billion between 2025 and 2029. A significant portion, $77 billion, is allocated for exploration and production, which includes expanding its fleets of FPSO and FLNG units.
- Clarkson Research
- Clarkson Research, a global broker, reported a surge in offshore engineering orders in 2024, reaching $27.2 billion, an 85% increase and the highest in a decade. While orders eased to $9.9 billion in the first half of 2025, they remain historically high. Clarkson projects demand for 20 to 30 new FLNGs by 2030, but warns of potential challenges due to financing hurdles and technological uncertainties.
AI generated, for reference only
What Happened When
- 1969：
- The concept of Floating Liquefied Natural Gas (FLNG) dates back to this year.
- 2016：
- FLNG reached commercial reality for the first time.
- 2022：
- Wison signed a $2 billion EPC contract with Eni to build the Nguya FLNG.
- June 2024：
- Wison won a $1 billion order from Malaysia’s Genting Group for a smaller FLNG.
- 2024：
- Offshore engineering orders surged, with 215 contracts worth $27.2 billion, up 85% by value to the highest level in a decade (Clarkson Research).
- September 2024：
- CIMC Raffles secured $1.6 billion in contracts to build two FLNG units for Golar LNG.
- February 2025：
- Wison broke ground on a $1.25 billion smart manufacturing base in Qidong, Jiangsu province.
- First half of 2025：
- Offshore orders eased to $9.9 billion, down 32% year-on-year, but remained historically high (Clarkson Research).
- July 2025：
- Meeting of the Communist Party’s Central Financial and Economic Affairs Commission where support for the sector was called.
- August 27, 2025：
- Wison's Nguya FLNG facility set sail for Africa’s west coast.
AI generated, for reference only
- PODCAST
- MOST POPULAR
Sign in with Google
Sign in with Facebook
Sign in with 财新