Hanwha Ocean has entered into an MoU with Kanata Clean Power & Climate Technologies to explore potential cooperation on the proposed Kanata FLNG project in Prince Rupert, British Columbia.
According to preliminary estimates, the Kanata FLNG project is expected to produce up to 12 million tonnes of LNG annually. Total capital expenditure is estimated at approximately $15.7 billion, subject to final project design, commercial arrangements, and regulatory approvals.
Under the agreement, the parties will assess opportunities for collaboration in the design and construction of floating LNG facilities, as well as operations and maintenance services, strategic equity participation, LNG supply arrangements, and transportation solutions. Potential areas of cooperation also include LNG carriers and bunkering vessels.
Philippe Levy, President of Hanwha Ocean’s Energy Systems Business Unit, said FLNG technology can provide a flexible and scalable pathway for new LNG export developments. He emphasized, however, that the memorandum represents only an initial stage of cooperation and does not constitute a commitment to invest in or construct the project.
The Kanata LNG project is being developed as a modular offshore liquefaction facility near Prince Rupert, the closest North American Pacific port to Northeast Asia. Kanata believes that the use of floating infrastructure will enable scalable and efficient LNG export capacity to serve international markets.
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