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If one day all FPSOs and FSRUs in the world stop operating for just 24 hours, will global oil and gas prices increase dramatically, causing many countries to fall into an energy crisis?
On June 17, 2026, the international oil and gas community continued to widely share images depicting floating offshore projects that play a particularly important role in the global energy value chain. Behind these giant ships is an entire ecosystem worth tens of billions of dollars, operating from crude oil exploitation, natural gas processing to LNG storage and regasification.
Many people often confuse between FPSO, FSO, FLNG, FSU and FSRU. However, each type is designed for a completely different task.
Table distinguishing floating offshore structures
System Full name Main function
FPSO Floating Production Storage and Offloading Exploiting, processing, storing and exporting oil
FSO Floating Storage and Offloading Oil storage and offloading only
FLNG Floating Liquefied Natural Gas Liquefy natural gas right at sea
FSU Floating Storage Unit LNG Storage
FSRU Floating Storage Regasification Unit LNG storage and regasification
FPSO – Giant Floating Oil and Gas Plant
FPSO is considered the "heart" of many offshore oil fields today.
After oil and gas are extracted from the subsea well, the entire product stream will be brought to the FPSO for oil, gas, water separation, pretreatment and storage in the ship's hull.
A modern FPSO can reach capacity
️ 150,000 - 250,000 barrels of oil/day
Investment value approx
12,000,000,000,000 VND to 90,000,000,000,000 VND
Famous projects include
• FPSO Cidade de Angra dos Reis in Brazil
• FPSO Prosperity offshore Guyana
• FPSO Block B in Vietnam is being considered in the Block B gas and electricity chain
FSO – Offshore Oil Storage
FSO has a similar shape to FPSO but does not have a complex oil and gas processing system.
The main task is to store oil after it is processed from the production platform or other FPSO.
Advantages
✅ Lower cost than FPSO
✅ Maintenance is simpler
✅ Suitable for small mines or mines that have been exploited for a long time
FLNG – Ocean Floating LNG Plant
FLNG is one of the most complex technologies in the energy industry.
Instead of bringing the gas to land to liquefy, the entire processing process is done right at sea.
The cMr. paragraph included
Natural Gas → Purification → LNG Liquefaction → Storage → Export
An FLNG project can be consuming
60,000,000,000,000 VND to more than 300,000,000,000,000 VND
Some famous projects
• Shell's FLNG Prelude in Australia
• Coral Sul FLNG in Mozambique
FSU – Floating LNG Storage
FSU is considered a "giant LNG storage tank" on the sea surface.
It does not have the ability to regasify but only stores LNG at a temperature of about minus 162 degrees Celsius.
FSU is often used in developing countries that want to import LNG but have not yet built onshore storage.
FSRU – Strategic Weapon in Energy Crisis
FSRU is a solution strongly used by Europe after the energy crisis.
Different from FSU, FSRU can
✅ LNG storage
✅ Convert LNG into natural gas
✅ Pump directly into the national pipeline system
Comparison table of FSU and FSRU
FSU FSRU criteria
LNG Storage Yes Yes
Re-aeration No Yes
Gas supply to the grid No Yes
Investment costs Lower Higher
Where Vietnam Stands
Vietnam has now incorporated LNG into its national energy structure with LNG import projects in Ba Ria - Vung Tau, Hai Phong and many gas power centers being developed.
Future LNG complexes could use FSRU as a tru solutiontime to reduce onshore infrastructure construction time.
In particular, the Super Gas and Electricity Project Block B is being accelerated with a total investment of nearly
300,000,000,000,000 VND
The project is expected to become one of the largest energy centers in Vietnam in the coming decades.
Overview of the Offshore Value Chain
FPSO → Oil exploitation and processing
FSO → Oil storage
FLNG → Liquefied natural gas
FSU → LNG Storage
FSRU → LNG regasification
From a distance, they all look like giant ships. But in reality, each project is a strategic link that determines the global energy flow, directly affecting oil prices, gas prices and the energy security of hundreds of millions of people.
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