SHI Receives Shell's Termination Notice for $4.7B FLNG Building Contract

South Korea's Samsung Heavy Industries (SHI) received a notice from the Netherlands-based Shell Gas & Power B.V. terminating a contract to build three floating liquefied natural gas (FLNG) facilities for $4.64 billion (KRW 5.27 trillion), the company said Thursday in a company filing on the Korea Exchange.

SHI and the European supermajor inked the FLNG construction contract, which took effect June 30, 2015, with the South Korean shipbuilder expected to deliver the vessels by Nov. 30, 2023.

The South Korean company is currently building Shell's first FLNG facility for the Prelude gas field offshore Western Australia, which is tentatively scheduled to commence production later in the year.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Seadrill CEO Praises Workforce (May 24)
 -  Serinus Shuts-In Sabria Field Due to S... (May 23)
 -  Proserv Secures Series of Services Dea... (May 23)
 -  BP Urges Engineers to Apply for Trinid... (May 23)
 -  CGG to Support Oman Industry Workers t... (May 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Services Manager
Expertise: Chemical Engineering|LNG|Technical Manager
Location: Lusby, MD
 
Associate Electronic Technician - Electronic Technician II
Expertise: Electrical Technician
Location: El Reno, OK
 
Field Materials Coordinator x 4 - CO
Expertise: Materials Management
Location: Fort Lupton, CO
 
search for more jobs

Brent Crude Oil : $54.15/BBL 0.51%
Light Crude Oil : $51.47/BBL 1.45%
Natural Gas : $3.22/MMBtu 3.30%
Updated in last 24 hours