2008 Annual Report - SBM Offshore

74 SBM Offshore Annual Report 2008 / Report of the Board of ManagementLNG import is generally supplied to generate electricity.The process of revaporisation, export and combustionrequires the consumption of power at each stage. Onemajor efficiency gain comes from using the waste heat ofa gas turbine to vaporise the LNG, and then export theresultant electricity directly. In support of this concept theCompany has developed a 100 MW, high voltage swivel toallow an electrical power exporting FSRU to weathervane.Recent developments in Norway have focused on meansof supplying the offshore oil industry with electricity fromshore based power plants. In this way the CO2 emissionscan be minimised, or eliminated by capture, reinjection oruse of hydropower. The electrical swivel makes it possible topower weathervaning FPSOs from shore based power.Floating LNG HoseOpen sea ship-to-ship LNG transfer is presently possibleGustoMSC designed wind turbine installation jack-up unitsoperating in the North Seaonly in benign environmental conditions. A component thatwill enable tandem transfers in more severe sea states is thefloating hose, as commonly used with crude oil tankers. Afour year programme to develop such an LNG compatiblehose was initiated in 2006. The hose design is based ona patented hose-in-hose (HIH) system, which combinestwo proven hose technologies.The design combines a standard marine hose with theproven composite LNG hose. The cavity between thehoses is filled with insulating materials with the requiredthermal and elastic properties over the full range of ambientto cryogenic temperatures. Having proved the feasibilityof the concept with an 8 inch hose in 2007, an 18 inchprototype of this hose was built and successfully testedin 2008, the results of which were presented to selectedclients and partners at a two day workshop in Monaco andthe Company’s laboratory in November 2008. Certificationof this HIH design is anticipated by the end of 2009.Renewable Energy SystemsThe Company is running several initiatives to leverage itsin-house expertise to develop large scale equipment forthe offshore renewables sector that is complementary toexisting marine based business. The Company continuesto focus on helping reverse the negative impact of fossilfuel emissions through the supply of clean fuels - a strategyto help sustain and grow the supply of clean and “green”(or “blue” marine) energy.The sectors of the renewables market which are expectedto have the largest near term potential offshore are the windand wave energy generation sectors. The Company seesopportunities to provide support to the rapidly growingwind sector through the provision of vessels both fortransportation, and for the installation and maintenanceof wind turbines. Wave energy conversion is very mucha nascent industry, with no commercial farms in place atall so far. The Company is working on a prototype waveenergy generator based on breakthrough technologies.