South Korean shipbuilding giant Samsung Heavy Industries started construction of an LNG system test facility as it looks to boost its market competitiveness.
The shipbuilder said on Wednesday the LNG carrier and the floating LNG solutions market is expected to expand significantly due to the increase in demand for the chilled fuel, noting the company is investing in its research and development capabilities.
It held a groundbreaking ceremony at its Geoje shipyard for an LNG system test and demonstration facility. The completion of the construction is expected by December 2020.
SHI noted in its statement that the facility will enable tests and development of new re-liquefaction and natural gas liquefaction process design, and new refrigerant utilization method to improve the efficiency of floating natural gas supply facilities.
It is a large-scale R&D facility that will be used to verify the performance of core technologies, SHI said.