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SHI wins massive LNG-FPSO order

SHI wins massive LNG-FPSO order

Seoul: Samsung Heavy Industries (SHI) announced on Thursday that it has been awarded a contract valued at 900 billion won, from a European firm, to build a self-propelled offshore Liquefied Natural Gas floating production, storage and offloading (LNG-FPSO). SHI added that LNG-FPSO vessel emerged as a new future growth drive with the company additionally receiving the recent order after winning an order for four LNG-FPSO hulls from the U.K.-based FLEX LNG Ltd. last April since the release of the world's first LNG-FPSO in 2008. The LNG-FPSO vessel developed by SHI is specially designed for the commercialization of small- and medium-sized marine gas fields scattered worldwide in around 2,400 sites. The recently awarded LNG-FPSO vessel, 320m in length, 60m in width, is to be built via installing an 210,000 cu m cargo tank, which stores natural gas compressed by one six-hundredth at minus 163 degrees Celsius, into the vessel upon its construction outside the vessel. SHI added that although a global financial credit crunch would likely to bring down a worldwide ship order volume this year, the order on marine facilities relevant to natural gas development such as LNG-FPSO vessel is forecasted to consistently draw an uptrend. [16/01/09]

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