Toward the end of 2021, a mere five floating LNG processors were operating around the world where they were used exclusively to tap offshore gas production. Unlike fixed onshore terminals, FLNGs—as they were employed at the time—offered a lower-cost option to liquify the gas with the added flexibility to move to other offshore gas resources inaccessible by land-based plants. ...

Less than three years ago, Kan-based Tallgrass Energy accepted a $4 billion investor buyout led by Blackstone that took the midstream company private. A name change to simply “Tallgrass,” and appointment of a new CEO quickly followed, along with a fresh strategy to diversify the business from an oil-and-gas pipeline transporter and processor, to an infrastructure company with an eye on new-energy frontiers. ...