HD Hyundai Heavy scores order to build FSRU for $364 million

South Korean shipbuilder HD Hyundai Heavy Industries has won a contract to build one floating storage and regasification unit (FSRU) for about $364 million.

HD Korea Shipbuilding & Offshore Engineering said on Wednesday that its unit HD Hyundai Heavy Industries will build the FSRU for an owner in Europe.

The unit will probably have a capacity of 170,000 cbm.

The contract has a price tag of 483.9 billion won or about $364 million, and Hyundai Heavy will deliver the FSRU by July 2027.

KSOE did not reveal any additional information regarding the new order.

This price is probably the highest price to date for a single FSRU of this or similar size.

Prior to this order, US LNG firm Excelerate Energy booked a newbuild FSRU at Hyundai Heavy in October 2022 and this deal is worth about $332 million.

Japan’s shipping giant MOL could be behind the new order for this FSRU but LNG Prime could not confirm this by the time this article was published.

MOL declined to comment on the FSRU order.

Poland’s Gaz-System recently selected MOL as the preferred shipowner to time charter out an FSRU for the planned LNG import terminal in Gdansk.

Also, Gaz-System said it plans to start commissioning of the complete project backed by the EU in 2027/2028, and the delivery of the new FSRU fits this timeline.

This is Poland’s first FSRU and will add to the existing onshore Swinoujscie LNG terminal.

Poland’s Orlen previously booked entire 6.1 bcm per year of regasification capacity at Gaz-System’s planned FSRU-based LNG import facility.

Most Popular

Aramco eyes large LNG portfolio

Aramco's long-term ambition is to have a portfolio of 20 million tonnes per annum (mtpa) of LNG capacity, according to Aramco’s CEO, Amin Nasser.

Argentina’s Southern Energy takes FID on second FLNG

Argentina's Southern Energy takes FID on second FLNG

Energy Transfer in advanced talks to sell remaining Lake Charles LNG volumes

Texas-based Energy Transfer is in advanced discussions for the sale of the remaining offtake volumes from its proposed Lake Charles LNG export facility in Louisiana, according to its management.

More News Like This

MOL’s LNG carrier fleet stands at 104 vessels

MOL's large fleet of liquefied natural gas (LNG) tankers had 104 vessels as of the end of June this year.

MOL, Equinor name LNG-powered VLCC

Japan's shipping giant MOL has named an LNG dual-fuel very large crude carrier which will serve Norway's Equinor under a charter deal.

DNV approves LNG-powered LCO2 carrier

Classification society DNV has awarded a general approval for ship application certificate to Japan's MOL, Malaysia's MISC and Petronas CCS Ventures, and China's SDARI for their jointly-developed LNG-powered liquid carbon dioxide (LCO2) carrier design.

HD Hyundai Heavy kicks off work on Gdansk FSRU

South Korean shipbuilder HD Hyundai Heavy Industries has officially started building MOL's floating storage and regasification unit (FSRU), which will serve Gaz-System's Gdansk LNG project in Poland.