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The company, previously known as Hyundai Global Service, revealed the contract worth $30 million in a statement.
HD Hyundai Marine Solution said the client is a European shipping company, but it did not reveal the name of the firm.
Under the contract, the South Korean firm will convert a 2004-built 138,000 cbm LNG carrier built in Spain to an FSU.
The company will be in charge of the entire conversion process, including design, procurement, construction, transportation, installation, and commissioning.
HD Hyundai Marine Solution said it plans to complete the contract by the first half of 2025.
Once converted, the LNG FSU will be stationed in the Central American region, where it will supply LNG to thermal power plants, it said.
Looking ahead, HD Hyundai Marine Solution plans to secure more conversion contracts, such as FSRUs and dual-fuel propulsion systems.
Earlier this year, HD Hyundai Marine Solution announced it has secured a contract from Greece’s Thenamaris to install a reliquefaction unit on the 155,000-cbm LNG carrier, Cool Ranger.
Moreover, the South Korean firm secured a contract from US energy giant Chevron to install reliquefaction units and other tech on the latter’s two LNG carriers.
In addition to reliquefaction units, HD Hyundai Marine will also install air lubrication technology and new gas compressors.
HD Hyundai Marine said that the 2014-built 160,000-cbm, Asia Energy, is one of the two LNG carriers which will receive the upgrade.