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Samsung Heavy wins US$1.5 bln order for FLNG facility in North America

This file photo provided by Samsung Heavy Industries shows an FLNG facility.

Posted on January 3, 2024

Samsung Heavy Industries Co., the world’s third-biggest shipbuilder by orders, said Tuesday it has received a US$1.5 billion order to build a floating liquefied natural gas (FLNG) facility in North America.

Samsung Heavy formed a consortium with U.S. engineering company Black & Veatch to sign an engineering, procurement and construction (EPC) contract to build the FLNG facility by February 2028, the company said in a statement.

The company didn’t provide the name of the shipper.

FLNG facilities are formerly called LNG floating production storage and offloading (FPSO) units.

For all of 2023, the company bagged $8.3 billion worth of orders, achieving 87 percent of its annual order target of $9.5 billion.

The shipbuilder has a three-year order backlog valued at $31.9 billion.


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