Two Korean firms are partnering to chase FSRU projects. EPIK, which has an FSRU project at the Australian port of Newcastle underway, is teaming up with Hyundai LNG Shipping in the new venture.
Jee Yoon, EPIK’s founder and managing director, said, “partnering with Hyundai LNG Shipping marks a key strategic milestone for EPIK, contributing significant expertise and support to the advancement of our flagship Newcastle LNG project.”
Beyond the Newcastle project, the two companies are looking at other FSRU projects around the world.
Hyundai LNG Shipping has a fleet of eight LNG carriers and carries approximately 17% of all imported LNG to South Korea.
EPIK anticipates placing an FSRU order next year, it said in a statement yesterday.
