Samsung Heavy wins $2.7 billion FLNG order for North American client

A large floating liquefied natural gas production facility built by Samsung Heavy Industries [SAMSUNG HEAVY INDUSTRIES]

Samsung Heavy Industries has won an order worth 4.33 trillion won ($2.7 billion) to build a floating liquefied natural gas (FLNG) facility for a North American client, the shipbuilder said in a regulatory filing on Tuesday.

Once the client issues a notice to proceed, Samsung Heavy Industries will begin construction, with delivery scheduled for July 2030. The deal, one of the company's biggest, is worth 40 percent of the 10.65 trillion won in revenue that it posted last year.

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An FLNG facility extracts and processes natural gas at sea, liquefies it into liquefied natural gas (LNG) and stores and offloads it — all on a single offshore platform. A high-value unit typically costs around $3 billion.