Samsung Heavy Industries Exploited a 3 Trillion Won Jackpot … “Newly Proven Technology” (Comprehensive)

Samsung Heavy Industries announced on the 23rd that it signed a contract to supply ship blocks and equipment for a total amount of $ 2.5 billion (approximately KRW 2.8 billion) with European ship owners. This contract is the largest single ship contract signed by Samsung Heavy Industries since its inception. The term of the contract is until December 2025.

With this order, Samsung Heavy Industries secured $ 3.8 billion of the $ 8.4 billion goal this year. The goal achievement rate will increase by 30% from 15% to 45%. The order book also increased to $ 21.1 billion, reaching $ 19.9 billion at the end of June, and then increased to more than $ 20 billion in five months.

An LNG carrier built by Samsung Heavy Industries. Photo / Samsung Heavy Industries

Samsung Heavy Industries did not disclose the details of the contract at the request of the ship’s owner, but the industry estimates that it was related to the Arctic resource development project ‘ARCTIC-LNG (Liquefied Natural Gas) 2’ promoted by Russia.

Arctic LNG-2 is the name of a gas field located on the Russian Gydan Peninsula in Siberia, a project that Russia is working on to produce 18,000 tonnes of LNG per year by 2025.

Novatec, a Russian energy company that is promoting this project, previously confirmed that it will build 15 ice-breaking LNG vessels needed to transport LNG at its state shipyard, Zvezda. Subsequently, Samsung Heavy Industries was selected as the technical partner for the LNG icebreaker to be used for the Arctic LNG-2 project in September last year and signed a design contract with Zvezda Shipbuilding.

Since the domestic industry lacks the technology of Zvezda Shipbuilding’s LNG carrier icebreakers, Samsung Heavy Industries has been providing design and production support to Zvezda Shipyards, predicting the possibility of receiving additional orders or supplying shipbuilding equipment.

A shipbuilding industry official said: “It is impossible to build a ship without specialized technology for ice-breaking LNG carriers. Russia lacks technology, but must have received outside help (Samsung Heavy Industries) according to the Government policy that it should be built in its own shipyard. “He said.

Furthermore, Samsung Heavy Industries is also seeking additional orders from LNG projects such as Qatar and Mozambique. A Samsung Heavy Industries official said: “Orders for large-scale LNG projects, such as Mozambique and Qatar, are strong. We are raising expectations for additional orders from container ships and crude oil carriers who have recently resumed orders.” “We are doing our best to connect the currently signed LOI and the additional option agendas with the actual contracts as much as possible during this year,” he said.

Reporter Choi Yura [email protected]

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