Wison awarded FEED contract for floating liquefaction project

Pilot LNG, LLC (Pilot), developer of the Galveston LNG Bunker Port (GLBP) project, announced that it has awarded the FEED contract for the project’s floating LNG unit to Wison Offshore & Marine (Wison).

The award further solidifies the growing partnership between the two companies first made public in July 2020. In addition to the FEED award, Pilot disclosed that Wison will also become a minority equity shareholder in Pilot, though further details are not publicly available at this time.

“It was imperative that the company selected to carry out the FEED works for the Galveston LNG Bunker Port have an excellent track record of successfully engineering and executing floating LNG projects,” said Pilot Chief Executive, Jonathan Cook. “Our selection of Wison is in recognition of Page 2 of 2 their unparalleled expertise and commitment to delivering safe, highly competitive floating LNG projects and we are thrilled to welcome Wison as a partner and shareholder in Pilot.”

Together, Pilot expects to be able to deliver a highly competitive and environmentally responsible project that will not only be more economical than traditional marine fuels for the marine industry, but will also help them dramatically reduce their emissions and comply with IMO 2020 regulations.

To further reduce its own impacts, Pilot has chosen to utilize all electric drive turbines powered by electricity sourced 100% from Texas renewables, eliminating virtually all operating emissions related to the facility and likely making the GLBP project one of the greenest facilities of its type anywhere in the world.

“Wison is delighted to grow our relationship with Pilot and we look forward to leveraging our significant experience to provide the greatest value to Pilot and its customers,” said Vivian Li, head of Wison Offshore & Marine, North America. “By utilizing floating technologies, we are able to provide a solution that can be delivered with unique advantages not available to traditional land-based facilities, as well as significantly reducing the infrastructure’s footprint and its associated impacts,” Li added.

The GLBP project would provide one of the US’slargest industrial port complexes, comprising the ports of Houston, Galveston, and Texas City, with the infrastructure needed to supply LNG to the growing global LNG bunker market.

LNG as a marine fuel has been demonstrated to significantly reduce vessel emissions, including eliminating virtually all particulate matter and SOx emissions as well as achieving approximately 80-90% NOx emission reductions compared to traditional marine fuels.

As company’s look for ways to reduce their emissions and meet tightening global maritime standards, LNG is increasingly becoming the fuel of choice.

While LNG bunkering infrastructure has been rapidly developing overseas and in certain parts of the US, Pilot’s Galveston LNG Bunker Port would be the first of its kind for the region.

Pilot anticipates taking a Final Investment Decision on the GLBP project in the first half of 2022 and operations beginning in the first half of 2025.

Pilot LNG, LLC (Pilot), developer of the Galveston LNG Bunker

Port (GLBP) project, announced today that it has awarded the Front-End Engineering & Design

(FEED) contract for the project’s floating LNG unit to Wison Offshore & Marine (Wison). The

award further solidifies the growing partnership between the two companies first made public

in July 2020. In addition to the FEED award, Pilot disclosed that Wison will also become a minority

equity shareholder in Pilot, though further details are not publicly available at this time.

From left to right: Martin Hruska, Director BD (WOM), Vivian Li, CEO (WOM), Jon Cook, CEO (Pilot), Shaun Davison, CDO (Pilot)

“It was imperative that the company selected to carry out the FEED works for the Galveston LNG

Bunker Port have an excellent track record of successfully engineering and executing floating LNG

projects,” said Pilot Chief Executive, Jonathan Cook. “Our selection of Wison is in recognition of

Page 2 of 2

their unparalleled expertise and commitment to delivering safe, highly competitive floating LNG

projects and we are thrilled to welcome Wison as a partner and shareholder in Pilot.”

Together, Pilot expects to be able to deliver a highly competitive and environmentally responsible

project that will not only be more economical than traditional marine fuels for the marine

industry, but will also help them dramatically reduce their emissions and comply with IMO 2020

regulations. To further reduce its own impacts, Pilot has chosen to utilize all electric drive

turbines powered by electricity sourced 100% from Texas renewables, eliminating virtually all

operating emissions related to the facility and likely making the GLBP project one of the greenest

facilities of its type anywhere in the world.

“Wison is delighted to grow our relationship with Pilot and we look forward to leveraging our

significant experience to provide the greatest value to Pilot and its customers,” said Vivian Li,

head of Wison Offshore & Marine, North America. “By utilizing floating technologies, we are able

to provide a solution that can be delivered with unique advantages not available to traditional

land-based facilities, as well as significantly reducing the infrastructure’s footprint and its

associated impacts,” Li added.

The GLBP project would provide one of the US’slargest industrial port complexes, comprising the

ports of Houston, Galveston, and Texas City, with the infrastructure needed to supply LNG to the

growing global LNG bunker market. LNG as a marine fuel has been demonstrated to significantly

reduce vessel emissions, including eliminating virtually all particulate matter and SOx emissions

as well as achieving approximately 80-90% NOx emission reductions compared to traditional

marine fuels. As company’s look for ways to reduce their emissions and meet tightening global

maritime standards, LNG is increasingly becoming the fuel of choice.

While LNG bunkering infrastructure has been rapidly developing overseas and in certain parts of

the US, Pilot’s Galveston LNG Bunker Port would be the first of its kind for the region. Pilot

anticipates taking a Final Investment Decision on the GLBP project in the first half of 2022 and

operations beginning in the first half of 2025.

 

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