SHI cancels LNG FPSO order

SHI cancels LNG FPSO order
Image courtesy of Samsung Heavy Industries

South Korean shipbuilder, Samsung Heavy Industries cancelled a contract to build a substructure for a floating LNG producing unit for an unnamed European customer.

According to the company’s filing issued on Friday to the South Korea’s financial supervisory service, the order was valued at 907.6 billion won (Approx: US$773.8 million).

The shipbuilder noted that the order was cancelled because the client did not issue a notice to proceed.

Under the initial contract signed in January 2009, the floating production, storage and offloading (FPSO) unit was planned to have an annual production capacity of 2.5 million tons and a storage capacity of 210,000-cbm of LNG.

1 KRW = 0.000852544 USD

 

LNG World News Staff

Share this article

Follow LNG World News

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >