LNG

Nov 9 (LNG) - The American Bureau of Shipping, the US classification society, said it was joining forces with a finance company and Scorpius Space Launch Company (SSLC) on the “Space Tech4Sea” project to adapt composite technologies developed for the space industry to LNG shipping. The European-based project has attracted a grant of more than 1 million euros ($1.13 million) from the European Commission. The project aims to apply lighter composite technology as a competitive alternative in LNG marine fuel tank designs, principally for short sea shipping. “Existing LNG tank technology can make adoption of the fuel prohibitively expensive. This composite technology has proven itself in other industries,” said ABS Vice President for Global Gas Solutions, Patrick Janssens.