STOCKHOLM, Sweden—Trelleborg A.B.'s Industrial Solutions business has acquired SBM Offshore N.V.'s cryogenic hose system technology to bolster its presence in the floating liquefied natural gas market.
The technology will help strengthen a cryogenic hose system Trelleborg is developing with Saipem S.p.A, an Italian supplier to the oil and gas industry.
The new hose system will be used to extract floating liquid natural gas in more demanding environments, according to Mikael Fryklund, president of Trelleborg Industrial Solutions.
Floating liquefied natural gas is a cost-effective, flexible way for commercializing new gas discoveries in deep water locations, the company said. Currently, according to the firm, there are few qualified systems available for offloading floating liquefied natural gas.
The new hose system is expected to hit the market in 2014.