Adding water treatment and power generation functions to a floating storage and regasification unit (FSRU) may be a more economical way to supply water and power than building onshore facilities, according to FPSO specialist Modec.

About a decade ago, Modec was participating in front-end engineering and design (FEED) work for proposed floating LNG projects.

More recently, with oil and gas prices depressed, a glut of LNG expected to come on stream and no imminent sign of a price recovery, executives at Modec went on the hunt for new opportunities.