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Samsung Heavy announced the launch of Cedar’s FLNG, which will be named “megúgu”, in a statement on Friday.
The shipbuilder aims to complete commissioning and deliver the FLNG with a nameplate capacity of 3.3 mtpa in the first half of 2028.
Samsung Heavy noted that it is currently building three large FLNGs simultaneously, including Petronas ZLNG, Eni’s Coral North FLNG, and this FLNG.
In June last year, Samsung Heavy officially started building Cedar’s FLNG.
Cedar LNG issued a notice to proceed to Samsung Heavy and Black & Veatch for its FLNG following the finalization of long-term commercial offtake agreements.
Samsung Heavy is responsible for the hull of the FLNG and topside plant processes, while Black & Veatch will provide its PRICO technology.
Late 2028
The $4 billion Cedar LNG project remains on time and on budget, with an expected in-service date in late 2028, Pembina’s management said in a business update in April.
The Haisla Nation has a 50.1 percent stake while Pembina owns 49.9 percent in the project located in the traditional territory of the Haisla Nation.
Pembina previously signed a 20-year take-or-pay liquefaction tolling service agreement for 1.5 mtpa of LNG to support the final investment decision on Cedar LNG in June 2024 and ultimately maintain key project timing and economic parameters, with the expectation of remarketing the capacity at a later stage.
In December last year, Pembina and US oil and gas producer Ovintiv signed a 12-year agreement for 0.5 million tonnes per annum of Pembina’s liquefaction capacity at the Cedar LNG facility.
Similar in structure to the previously announced Petronas agreement for 1 mtpa, the agreement with Ovintiv is a synthetic liquefaction service structure under which Pembina will provide transportation and liquefaction capacity to Ovintiv and receive a long-term, take-or-pay revenue stream with the potential for incremental value enhancement, Pembina said.
Following the agreement with Ovintiv, Pembina remarketed the full 1.5 mtpa of its Cedar LNG capacity to third parties.