ABS provides ?approval in principal? for Inpex?s floating LNG terminal concept

Houston-based ship classification society ABS said it has recently provided approval in principal to a concept proposed by Japan?s upstream firm Inpex Corp. to develop floating LNG terminal for its Abadi gas fields in Masela PSC, Timor Sea.

ABS in its Dec 6, release, did not provide further detail.

ABS is a leading international classification society devoted to promoting the security of life, property and the marine environment through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities.

Inpex, which has 100 percent interest in the Masela Block is currently conducting appraisal well drilling with a view to submitting Plan of Development (PoD) May 2008. Inpex is planning to develop 5-7MTPA floating LNG plant in Masela. (alex)