Samsung Heavy Industries Earns FLNG Design Certification, Pursues U.S. Technical-Service Deals and Market Expansion

[Financial News] Samsung Heavy Industries is set to receive certification for its floating liquefied natural gas production facility (FLNG) design capabilities. Based on this achievement, it will sign technical-service contracts and memorandums of understanding (MOUs) with U.S. companies to pursue market opportunities.
Samsung Heavy Industries said it will receive certification for its FLNG design technology at Gastech, the world’s largest gas exhibition, held in Bangkok, Thailand, from the 14th to the 17th.
First, on the 15th, it will receive certification for a conceptual design that applies its independently developed natural gas liquefaction system, SENSE IV, to the topside facilities of an FLNG. It will receive Approval in Principle (AiP) from the American Bureau of Shipping (ABS) and Lloyd’s Register. It also obtained a Basic Design Review (BDR) from ABS.
Until now, overseas companies have led the development of liquefaction-system technology for LNG facilities. The industry has relied on foreign suppliers for the core equipment that cools natural gas to extremely low temperatures so it can be stored and transported. Samsung Heavy Industries independently developed and demonstrated SENSE IV, earning recognition for its technology from global classification societies. It will grant the first license for SENSE IV to GasEntec, a Korean offshore-plant engineering company, and plans to sign a related MOU.
On the same day, Samsung Heavy Industries will receive from Korean Register an engineering-limit-based structural integrity assessment for a large Type C independent tank. On the 16th, it will receive Approval in Principle from DNV for a composite support structure for storage tanks used in very large gas and ammonia carriers.
Samsung Heavy Industries will use these technological capabilities to partner with U.S. companies. On the 15th, it plans to sign a technical-service agreement (PSA) with JERA Americas, a subsidiary of JERA, Japan’s largest power utility, for a floating LNG storage and regasification unit (FSRU) project off the coast of Hawaii. On the 16th, it will sign an MOU with LNG developer Fulcrum LNG to pursue FLNG markets in five regions worldwide.
Choi Sung-an, CEO of Samsung Heavy Industries, said, "We will further expand cooperation with global companies based on the LNG value chain, including FLNG, and lead the market."

[email protected] Kim Yun-ho Reporter