Samsung Heavy Industries has successfully secured an order for an ultra-large offshore plant in North America worth more than 4 trillion won. With this contract, the company has now filled more than half of its annual order target for the year.

Samsung Heavy Industries announced in a regulatory filing on June 2 that it had won an order for one floating liquefied natural gas production facility (FLNG) from a North American client for 4.3301 trillion won (approximately $3.16 billion). Construction of the facility is set to begin in earnest following the issuance of a notice to proceed (NTP) by the client, with the delivery deadline set for July 2030.

The order was underpinned by Samsung Heavy Industries’ unrivaled technological competitiveness. The company has secured 7 of the 11 newly built FLNGs ordered worldwide to date, including Royal Dutch Shell’s “Prelude,” the world’s largest. This represents an overwhelming global market share of 64%.

Boosted by this large-scale order, Samsung Heavy Industries’ cumulative order tally for the year stands at a total of 28 vessels and $8.3 billion. This figure represents 60% of the company’s annual order target of $13.9 billion.

Breaking down the results by segment, the merchant ship segment stands out in particular. The company has secured a total of $5 billion in orders, including 13 LNG carriers, 2 ethane carriers, and 4 gas carriers, achieving 88% of its merchant ship segment target of $5.7 billion. The offshore segment has also recorded $3.3 billion in orders, including this FLNG contract, filling 40% of its target of $8.2 billion.

Source:Business Korea