Shell's Final Investment Decision for FLNG Facility

Shell's final investment decision for the world's first floating liquefied natural gas (FLNG) facility was made after the discovery of the Prelude field, located offshore in northwestern Australia. This field is estimated to hold approximately 3 trillion cubic feet of natural gas equivalent reserves. The FLNG technology allows for the extraction and processing of natural gas in remote locations, which are often not viable for traditional extraction methods. This innovation is a significant advancement in the liquefied natural gas (LNG) sector, which has its roots in developments from the mid-20th century. The Prelude FLNG facility represents a shift in how natural gas resources can be accessed, enabling the exploitation of reserves that would otherwise remain untapped due to their location or size. The facility is designed to produce, liquefy, store, and transfer LNG at sea, thereby reducing the need for extensive onshore infrastructure and minimizing environmental impact. The implementation of FLNG technology is expected to enhance the efficiency of natural gas production and contribute to meeting global energy demands.