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Samsung Heavy Industries (SHI) has secured an EPC contract for a new floating LNG production unit worth US$1 billion.
Samsung Heavy Industries (SHI) has won an engineering, procurement and construction (EPC) contract for a new floating LNG production unit, worth US$1,5 billion. Samsung Heavy Industries has formed a consortium with Black & Veatch to deliver the new FLNG unit, subject to the customer's final project investment decision (FID). The floating LNG production unit will be an impressive addition to the LNG market, with the LNG loading terminal representing a major milestone for the industry. (Source: clickpetroleoegas.com.br/petrobras-petr4-firma-acordos-com-equinor-para-transporte-de-gas-natural-em-campos/)
Strengthening leadership position with FLNG installation
This is a critical milestone on our path towards an FID for Cedar LNG, the first indigenous majority-owned LNG Platform project in the world. We secure world-class FLNG expertise and look forward to working with SHI and Black & Veatch to build an LNG facility with one of the cleanest environmental profiles in the world that will usher in a new era of production of sustainable, low-carbon LNG,” said Doug Arnell, CEO of Cedar LNG.
Leadership in the global energy transition
‘Our role in helping Cedar LNG make history at this world-class facility is aligned with our commitment to providing a reliable and resilient global energy supply as a world-leading energy transition,’ added Mario Azar, President and CEO of Black & Veatch.
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Strategic location and advanced planning
Cedar LNG is a proposed floating LNG facility in Kitimat, British Columbia, Canada, within the traditional territory of the Haisla Nation.
LNG development and infrastructure
The project now has key regulatory approvals, memorandums of understanding signed for long-term liquefaction services for the total capacity of LNG from the project and, with the achievement of this milestone, the project is in an advanced stage of planning and development with an FID expected by the end of the first quarter of 2024.
Construction and delivery of FLNG
Subject to a positive FID, onshore construction work on the project could begin as early as the second quarter of 2024, with delivery of the FLNG and substantial completion expected in 2028.
Exploration of foreign markets and LNG supply
The project is strategically positioned to take advantage of the abundant supply of natural gas of Canada and British Columbia's growing LNG infrastructure to produce low-carbon LNG for foreign markets.
LNG production and transportation process
The natural gas will be delivered to Cedar LNG through an approximately 8-mile-long pipeline that connects to the Coastal GasLink pipeline.
Sustainable supply and efficient operation
The natural gas will then be converted into LNG, before being loaded onto an LNG carrier, about once every 7 to 10 days or up to 50 times a year. Each LNG carrier will travel through the Douglas Channel to Hecate Straight, using the existing deepwater shipping route, en route to customers in Asia-Pacific.
Economic impact and rural conservation
Up to 500 people will work at Cedar LNG during peak construction. Approximately 100 people will work at the facility full-time during operation.
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