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Samsung Heavy Industries wins KRW2tn FLNG order

A floating liquefied natural gas (FLNG) facility built by Samsung Heavy Industries

Samsung Heavy Industries has won a 2-trillion-won offshore plant order for the first time in three years.

The company announced on Dec. 22 that it has won an order for an offshore production facility from a client in Asia. It kept details about the deal under wraps at the request of the shipowner. Yet, according to foreign media reports, this offshore facility is a floating liquefied natural gas (FLNG) facility and was ordered by Malaysian state-run energy company Petronas. A FLNG facility can store and unload natural gas extracted from the sea after turning it into liquefied natural gas (LNG).

The contract amount is worth 1,961.1 billion won, or approximately US$1.5 billion. The FLNG facility will be completed and delivered to the client by August 2027.

The last time the company won an offshore project was in 2019 when it was awarded a floating production storage and offloading (FPSO) unit from an Indian shipping company. An FPSO unit directly refines crude oil extracted from the sea.

Source: BusinessKorea

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