Samsung Heavy Industries announced on June 10 that it held the main contract signing ceremony for the ‘Delfin FLNG Project,’ which will become the first offshore LNG export outpost in the US.

This event, held in Washington, D.C. on June 9 (local time), was arranged to formalize the launch of the construction of the ‘Delfin FLNG Vessel 1’ worth $2.9 billion, which Samsung Heavy Industries disclosed on June 2, and to commemorate the completion of the Final Investment Decision (FID) for the first offshore FLNG project in U.S. history.

The industry anticipates that this project will serve as an opportunity for the offshore FLNG business in the US to begin in earnest.

It is also expected to have a positive impact on the mid- to long-term sales expansion of Samsung Heavy Industries, which possesses competitiveness in the FLNG sector.

Samsung Heavy Industries is currently conducting contract negotiations for the second and third vessels that Delfin is sequentially promoting, which raises expectations for additional orders in the North American market and the securing of leadership in building the LNG value chain in the future.

The signing ceremony on this day was attended by representatives of global asset management companies and shipping and energy companies, including Choi Seong-an, Vice Chairman of Samsung Heavy Industries, Dudley Poston, CEO of Delfin Midstream, Jason Kalisman, CEO of Talisman Group, James Berner, Partner at BlackRock Global Infrastructure, Takeshi Hashimoto, President of MOL, and Carlos Wheelock, Head of LNG Americas at Vitol.

From the government side, Kyle Houstveit, Assistant Secretary of the US Department of Energy (DOE), Steve Carmel, Administrator of the US Maritime Administration (MARAD), and Kang Kyung-wha, Ambassador to the US, were present.

Choi Seong-an, Vice Chairman of Samsung Heavy Industries, said, “At this signing ceremony, global partners showed their trust in Samsung Heavy Industries’ FLNG technology and project execution capabilities,” adding, “We will prove our competence with world-class quality and strict adherence to delivery dates.”

Source:Business Korea