Samsung Heavy Industries announced on June 8 via a regulatory filing that it had finalized a main contract with an African shipowner for a large-scale Floating Liquefied Natural Gas  production facility valued at 3.6536 trillion won The contract is an extension of preliminary work that has been underway, with the upper module currently in the fabrication stage, and delivery is scheduled for 2028 following sea trials.

FLNG, which can extract, liquefy, and store natural gas offshore, carries lower political risk than onshore plants and generates revenue more quickly, making it widely regarded as an optimal alternative amid the recent energy supply chain crisis. Samsung Heavy Industries has fully introduced its “Lessons Learned System” to this project, successfully standardizing the entire process from design through to commissioning.

Samsung Heavy Industries analyzed vast amounts of data accumulated from past construction experience to optimize its design and processes. This achievement is regarded as going beyond simple repeat construction, realizing what is described as an “evolutionary standard FLNG” that fully incorporates feedback from the engineering stage onward.

A Samsung Heavy Industries official stated, “It is of great significance that we have become the first in the world to achieve full standardization across the entire project process,” adding, “We will continue to maintain an ultra-gap competitive edge in the FLNG sector by leveraging the standardization experience we have gained as a strategic asset.”

Including this latest order, Samsung Heavy Industries’ cumulative orders for the year stand at a total of 30 vessels and $9.6 billion. This represents 69% of the annual order target of $13.9 billion and already exceeds last year’s full-year performance of $7.9 billion by 22%.

By segment, the merchant vessel division secured orders for 28 vessels totaling $5.2 billion, including 14 LNG carriers, reaching 91% of its target. The offshore segment also recorded $4.4 billion in orders, including two FLNG units with this latest contract, continuing a robust growth trend centered on high value-added vessel types.

Source:Business Korea