Samsung Heavy signs 3.6 trillion-won FLNG deal

SEOUL, June 8 (Yonhap) -- Samsung Heavy Industries Co., a major South Korean shipbuilder, said Monday it has signed a final contract worth 3.65 trillion won (US$2.38 billion) to build a floating liquefied natural gas (FLNG) facility.

In a regulatory filing, Samsung Heavy said it signed the deal with an undisclosed client in Africa and will deliver the facility in 2028.

The project had previously moved forward under a preliminary work agreement, allowing construction activities to begin ahead of the final contract. The shipbuilder is currently working on the topside modules, and module installation and commissioning will follow.

The shipbuilder has secured contracts worth a combined $9.6 billion to build 30 ships and offshore facilities so far this year.

Samsung Heavy Industries Co.'s floating liquefied natural gas facility is seen in this photo provided by the shipbuilder. (PHOTO NOT FOR SALE) (Yonhap)