South Korean shipyards win huge Mozambique LNG carrier orders

Two South Korean shipyards have received orders to build 17 carriers believed to be tied to the Total-led $20 billion Mozambique LNG project.

Samsung Heavy said in two separate stock exchange fillings it secured orders for eight LNG carriers worth 1.63 trillion won ($1.47 billion).

The yard said it would contruct two vessels for an Oceania-based owner and deliver them by September 2024.

Furthermore, Samsung Heavy will build four ships for an African owner and deliver them by May 2024.

Samsung did not disclose any further information regarding the orders.

On the other side, Korea Shipbuilding & Offshore Engineering revealed in five separate fillings its unit Hyundai Samho won orders for nine carriers worth 1.82 trillion won ($1.64 billion).

Under these orders, Hyundai Samho will build two LNG carriers for an owner based in Oceania and deliver them by May 2024.

Additionally, KSOE said Hyundai Samho would build seven carriers for a Panama-based firm with delivery windows spanning from November 2023 to September 2024.

KSOE also did not disclose any additional information but LNG Prime understands that all of these vessels worth in total up to $3 billion would be used to ship LNG from the Total-led Mozambique project.

The shipowners behind the orders are reportedly Maran Gas, NYK, MOL, and K Line but we could not verify this information by the time this article was published.

The Mozambique project includes the development of offshore gas fields in Mozambique’s Area 1 and a 12.8 mtpa liquefaction plant at the Afungi complex in Palma in northern Mozambique.

Total previously said it expected Mozambique LNG production to begin in 2024.

Other partners in the project are Japan’s Mitsui, Mozambique’s ENH, Thailand’s PTT, and Indian firms ONGC, Bharat Petroleum, and Oil India.

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