Crown LNG Announces Selection of IKM Consulting Ltd as Engineering Design Partner for Grangemouth LNG Infrastructure Project
Rhea-AI Summary
Crown LNG Holdings has selected IKM Engineering & Environmental Consultants as its partner for the design and engineering of a planned floating LNG import terminal in the Firth of Forth, Scotland. This marks a significant step towards the Final Investment Decision (FID) for the Grangemouth project, targeted for late 2024. The project aims to enhance the UK's energy security, addressing increased LNG imports and geopolitical impacts on energy markets.
IKM's role will encompass Pre-FEED and FEED phases, including project management, execution planning, consenting, process design, facility layout optimization, detailed engineering, and procurement support. The project will utilize floating storage and regasification unit (FSRU) technology. A site study has been completed, and Crown will proceed with the consenting process with Scottish and UK Governments.
Positive
- Selection of IKM as engineering partner advances the Grangemouth LNG project towards FID
- Project aims to support UK's energy security and address increasing LNG import demand
- Existing power grid and gas grid access available within ten miles of the proposed site
- FSRU technology to be employed for the project
- Site study for location and LNG vessel access completed
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CGBS declined 1.37%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Company advances toward FID target of late 2024
ST HELIER, Jersey, July 25, 2024 (GLOBE NEWSWIRE) -- Crown LNG Holdings Limited (“Crown” or “Crown LNG”), a leading provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, today announced that it has selected IKM Engineering & Environmental Consultants (“IKM”), an award-winning civil and structural engineering and environmental consultancy, as its partner for the design and engineering of its planned
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
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.
“After a rigorous review process of some of the most widely known and respected civil and structural engineering consultancies in the UK, we are pleased to announce the selection of IKM, part of the Global Energy Group, as our engineering partner,” said Swapan Kataria, CEO of Crown LNG. “With an existing presence in Grangemouth and extensive experience across water and energy infrastructure, they have the unique capability to support the development and completion of the project safely, effectively and efficiently. Their partnership will help to advance our efforts toward FID for this critical project and expand the UK’s energy security through enhanced access to reliable natural gas supplies.”
A site study for location of the import facility and LNG vessel access has been completed, and Crown will progress immediately with the consenting process with the Scottish and UK Governments. Existing power grid and gas grid access is available within ten miles of the proposed site location. Crown will employ a floating storage and regasification unit (“FSRU”) technology for the project.
“IKM are pleased to be supporting Crown LNG’s major investment in the Scottish economy. The project will provide a critical step in the transition to a low carbon economy and provide energy, infrastructure and jobs both in Fife and Grangemouth,” commented Ian Maclachlan, IKM’s founder.
About Crown LNG Holdings Limited
Crown LNG is a leading provider of offshore LNG liquefaction and regasification terminal infrastructure solutions for harsh weather locations, which represent a significant addressable market for bottom-fixed, gravity based (“GBS”) liquefaction and floating storage regasification units, as well as associated green and blue hydrogen, ammonia and power projects. Through this approach, Crown aims to provide lower carbon sources of energy securely to under-served markets across the globe. Visit www.crownlng.com/investors for more information.
About IKM Engineering & Environmental Consultants
IKM Consulting is an award-winning engineering and environmental consultancy with offices in Grangemouth and Runcorn. IKM works extensively in the petrochemical, energy, and renewables industries for a range of national and international clients.
Our multidisciplinary teams are dedicated to managing client risk and enabling strategic and informed decision-making. We work collaboratively to deliver value and technical expertise, supporting clients across the lifecycle of projects, from planning and feasibility to detailed design and project management.
Contacts
For Crown LNG
Investors
Caldwell Bailey
ICR, Inc.
CrownLNGIR@icrinc.com
Media
Zach Gorin
ICR, Inc.
CrownLNGPR@icrinc.com
For IKM
Trisha Palmer
trish@ikmconsulting.co.uk
FAQ
What is the Grangemouth LNG project's target date for Final Investment Decision (FID)?
Who has Crown LNG selected as its engineering design partner for the Grangemouth project?
What technology will Crown LNG use for the Grangemouth LNG import terminal?
Where is the proposed location for Crown LNG's new import terminal in Scotland?
What services will IKM provide for Crown LNG's Grangemouth project?
