Samsung Heavy Industries Clinches $4.7B Contract to Build 3 FLNGs for Shell

South Korea's Samsung Heavy Industries (SHI) clinched a $4.7 billion (KWR 5.2 trillion) contract from the Netherlands-based Shell Gas & Power B.V. to construct three floating liquefied natural gas (FLNG) facilities, according to local media Yonhap News Agency Wednesday.

Under the contract, which came into effect June 30, SHI will have until Nov. 30, 2023 to deliver the three FLNG facilities.

SHI indicated that the contract value only includes construction of the hulls and could increase as the contract for the remaining parts, including the decks, will be signed in the second half of 2016, the company said through a regulatory filing, Yonhap added. 

The South Korean shipyard is also involved in the construction of Shell's first FLNG facility for the Prelude gas field offshore Western Australia that is tentatively scheduled to commence production in 2016.

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