Samsung Heavy Industries (SHI) has won an order to build a 170,000 m3 FSRU(Floating Storage and Regasification Unit) for Hoegh LNG in Norway at KRW 270bn(About 230million USD).

FSRUs are vessel-like offshore facilities that can regas LNG on the water and supply to the onshore directly. The new FSRU has capacity to store and supply 70,000tons of LNG, roughly equals South Korea's daily LNG usage. The newbuilding contract comes with option for three more.

About Samsung Heavy Industries

Samsung Heavy Industries has successfully completed diverse projects With the aim of securing global leadership in various sectors including shipbuilding, offshore, machinery & electric systems.
Most notably, it has achieved unbeatable leadership in the high-tech high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, LNG carrier and FPSO markets.

About Höegh LNG

Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus growth plans on the FSRU market, with the objective of securing long-term contracts with strong counterparts at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, Indonesia, Lithuania, Egypt and Colombia. The company employs approximately 110 office staff and 500 seafarers.