The South Korean shipbuilder said Tuesday through regulatory filings that construction will begin once the client issues a notice to proceed, with delivery scheduled for July 2030. It did not name the buyer.
FLNG units are vast offshore vessels that extract, chill and store natural gas at sea, freeing producers from the cost and delay of building pipelines and onshore export terminals to reach remote gas fields. Demand has firmed as buyers in Asia and Europe hunt for supply to bridge the shift away from coal.
Samsung Heavy is a dominant player in the niche, having built Royal Dutch Shell's Prelude, the world's largest FLNG facility. The company said it has secured seven of the 11 FLNG units ordered worldwide to date, giving it a 64 percent share of the global market.
The contract lifts Samsung Heavy's order tally this year to 28 vessels worth $8.3 billion, or about 60 percent of its $13.9 billion annual target, the company said. Its commercial vessel arm has booked $5.0 billion, 88 percent of target, on the back of 13 LNG carriers, two very large ethane carriers, four very large gas carriers, two container ships and six crude tankers.
The offshore division, including the latest FLNG award, has won $3.3 billion in orders, or 40 percent of its $8.2 billion goal for the year.
Shares of Samsung Heavy Industries traded at 27,800 per stock at 3:08 p.m., 0.91 percent higher than the day before.
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