Abstract: A method, system and production and storage facility is disclosed for offshore LPG and LNG processing of associated gases. The system includes a first production facility and a second production and storage facility. The first facility receives and processes produced fluids to produce crude oil, water and rich associated gases. The second facility includes a gas treatment unit for processing the rich associated gases to remove contaminants and produce a treated gas stream of hydrocarbons. The second facility also has at least one LPG and/or LNG production unit for producing one of LPG and/or LNG from the treated gas stream. At least one storage tank on the second facility stores at least one of the LPG and/or LNG. The second production facility may be a retrofit LNG or LPG carrier. The treatment unit, LPG and/or LNG production and needed offloading facilities and equipment can be added to the LNG/LPG carrier. Existing storage tanks can be modified as needed or else new storage tanks can also be added.