Samsung Heavy linked to giant Indian FSRU contract

Samsung Heavy linked to giant Indian FSRU contract

A report out by Seoul-based Hi Investment & Securities suggests Samsung Heavy Industries (SHI) is on the cusp of winning a giant FSRU project in India, worth more than $850m.

Fox Petroleum Group has tapped the South Korean builder to construct what would become Asia’s largest LNG import terminal with a gas storage capacity of 330,000 cu m in Karwar on India’s west coast.

SHI, which has yet to confirm a single order this year and is now going through restructuring, has a lot on the table when it comes to India. It has formed a joint venture with India’s Cochin Shipyard in a bid to build a series of LNG carriers for GAIL, the giant Indian gas firm.

SHI has also been selected as the builder of an LNG plant in Mozambique’s Rovuma Basin giving the yard hope that its barren order spell is coming to an end.

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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