Floating liquefied natural gas (FLNG) projects could offer a cost-competitive alternative to offshore venting and flaring as operators increasingly take aim at their carbon footprints, industry experts said at the Offshore Technology Conference in Houston this week.

Around 30% of offshore associated gas is flared globally, said Technip Energies SE’s Jean-Philippe Dimbour, director of business development and offshore technology. That presents an opportunity for FLNG to monetize wasted gas, he said. In addition, liquids production could make floating projects even more economic.

“When the gas composition is rich, even more revenues can be generated from production on sales of higher-value byproduct liquids,” he said. Those liquids could include condensate, natural gas...