Samsung Heavy Industries Wins $3.2 Billion FLNG Contract in North America

By SHIN JIA Posted : June 2, 2026, 14:45 Updated : June 2, 2026, 14:45
Samsung Heavy Industries' large floating liquefied natural gas production facility (FLNG) [Photo=Samsung Heavy Industries]
Samsung Heavy Industries has secured a contract for one floating liquefied natural gas production facility (FLNG) worth 4.33 trillion won (approximately $3.2 billion) from a client in North America.

According to Samsung Heavy Industries, construction is set to begin following the issuance of the client's notice to proceed, with delivery scheduled for July 2030.

The company has reportedly captured 64% of the global FLNG market, having secured seven out of the eleven new FLNG units built to date, including the world's largest FLNG, Shell's Prelude.

A Samsung Heavy Industries official stated, "This contract reaffirms our overwhelming competitiveness in the FLNG sector, and we will continue to achieve success in the global FLNG market based on our proven technology and execution experience."

Meanwhile, Samsung Heavy Industries' cumulative orders for the year have reached a total of 28 vessels worth $8.3 billion, achieving 60% of its annual order target of $13.9 billion.

Following a recent order on May 27 for one LNG carrier, two large gas carriers, and two oil tankers from a Bermuda-based shipping company, Samsung Heavy Industries continues to build on its recent successes.



* This article has been translated by AI.

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