RAVI Shankar Srinivasan sees the global floating production storage and offloading industry "standing on two legs" in the coming years as energy transition gathers pace, providing new market opportunities for floater operators. A seasoned industry veteran with more than three decades in global shipping and in the oil and gas industry, Srinivasan is the chief executive of India's Shapoorji Pallonji Oil & Gas (SP Oil & Gas), spearheading its FPSO business and its emergence as a leading global FPSO player. Srinivasan believes FPSO players should no longer restrict themselves to just oil and gas, but think about a wider context for floating solutions in the transition. He sees conventional energy coexisting with green energy at least for the next three decades, leading to new opportunities. "We have the knowledge for engineering, procurement and construction (of floaters) and what happens is that the FPSO companies operating in the conventional space will soon become the natural solid choice for green energies and wind energy, as and when things take shape," he says. Along with oil companies, floater operators will soon be deploying carbon capture technologies to enable FPSOs to be powered with clean energy, he adds. "We'll have an active long-term role to play if we remain sort of conscious towards the need for cleaner solutions, and adapt to bringing the technologies that solve this problem," he says. As crude prices continue to trade at highs not seen in several years, inching closer to the $100 per barrel mark, Srinivasan remains hopeful that the pipeline of global FPSO projects will remain robust in the coming years.
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