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Samsung expects FLNG order from Eni this year

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LNG Industry,


According to Reuters, Samsung Heavy Industries is expecting an order from Eni this year for the construction of a floating LNG (FLNG) unit. This demonstrates that the project, which will process gas reserves offshore Mozambique, is finally progressing following long delays.

Reuters reports that Samsung is currently holding exclusive discussions with Eni, and that it is working as part of a consortium with Technip and JGC. The project is reportedly worth approximately US$5.4 billion, whilst Samsung’s share alone would be worth approximately US$2.5 billion.

Anadarko, a US firm, is reportedly making plans to develop onshore facilities, whilst Eni is due to construct the offshore processing units. Nonetheless, uncertainty has led to long delays in final investment decisions (FIDs). This latest development from Samsung reportedly opens the door for Eni to make a final decision in 2016, leading to the increased likelihood of Anadarko’s work proceeding.

Edited from various sources by David Rowlands

Read the article online at: https://www.lngindustry.com/floating-lng/21072016/samsung-expects-flng-order-from-eni-this-year-2798/

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