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.