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Samsung Heavy Industries (SHI) Secures EPC Contract for a New Floating LNG Production Unit Worth US$ 1 Billion.
Samsung Heavy Industries (SHI) won an engineering, procurement, and construction (EPC) contract for a new floating LNG production unit worth US$ 1.5 billion. Samsung Heavy Industries formed a consortium with Black & Veatch for the delivery of the new FLNG unit, subject to the client’s final investment decision (FID). The floating LNG production unit will be an impressive addition to the LNG market, with the LNG loading terminal representing a significant milestone for the industry. (Source: en.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 in our path toward an FID for Cedar LNG, the world’s first majority Indigenous-owned LNG platform project. We secured 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, which will usher in a new era of sustainable and low-carbon LNG production,’ said Doug Arnell, CEO of Cedar LNG.
Leadership in Global Energy Transition
’Our role in helping Cedar LNG make history at this world-class facility aligns with our commitment to providing a reliable and resilient global energy supply as a world leader in 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 important regulatory approvals, signed memorandums of understanding for long-term liquefaction services for the total capacity of the LNG 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 the FLNG
Subject to a positive FID, construction work on land for the project could begin as early as the second quarter of 2024, with FLNG delivery and substantial completion scheduled for 2028.
Exploring Foreign Markets and LNG Supply
The project is strategically positioned to leverage Canada’s abundant natural gas supply and British Columbia’s growing LNG infrastructure to produce low-carbon LNG for foreign markets.
LNG Production and Transportation Process
Natural gas will be delivered to Cedar LNG through a pipeline approximately 8 kilometers long that connects to the Coastal GasLink pipeline.
Sustainable Supply and Efficient Operation
Natural gas will then be converted to LNG before being loaded onto an LNG carrier, approximately once every 7 to 10 days or up to 50 times a year. Each LNG carrier will travel through the Douglas Channel to Hecate Strait, using the existing deep-water maritime route, en route to customers in the 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 facilities full-time during operations.
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