Samsung Heavy Wins US$1.5 Bln Order for FlNG Facility in North America

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.