Koreans partner to chase FSRU projects

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.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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