A method for processing and transporting compressed natural gas by a floating vessel with a power plant entails obtaining pressurized high-energy content gas, separating the pressurized product stream into saturated gas and liquids, and removing impurities from the saturated gas. Water is removed from the gas forming a dry pressurized gas. The dry pressurized gas is cooled forming a two-phase gas. The gas is loaded into a storage element located on a floating vessel, while the liquids are loaded into the storage element forming a mixture. The floating vessel transports the storage modules and elements to a desired location at a lower cost than comparable submarine pipeline transport costs for distances of less than about 2500 nautical miles while utilizing the vapor phase during transit to power the floating vessel.