Samsung Heavy Industries(SHI) has secured another large-scale floating liquefied natural gas (FLNG) project, extending its strong performance in the global offshore energy market. The latest deal further strengthens the shipbuilder's order backlog, with its cumulative orders for the year already surpassing last year's total.
The company announced on June 8 that it had signed a final contract worth approximately KRW 3.65 trillion (about $2.7 billion) with an African client for the construction of an FLNG facility.
The vessel-sized offshore plant will be capable of producing, processing, liquefying, and storing natural gas directly at sea. Delivery is scheduled for 2028 following module installation and commissioning work.
The project had previously been progressing under an early works agreement and has now entered the full execution phase. According to the company, fabrication of the topside modules is already underway.
FLNG facilities have gained increasing attention from energy companies seeking more flexible and resilient LNG development solutions. Unlike traditional onshore LNG plants, FLNG units can be deployed directly above offshore gas fields, reducing development timelines and limiting exposure to political, regulatory, and geographical risks.
As global energy security remains a priority for many countries, offshore LNG production projects have emerged as an attractive alternative to land-based infrastructure, driving growing demand for FLNG assets.
Industry observers say the latest contract highlights Samsung Heavy Industries' growing expertise in one of the most technically demanding segments of the offshore engineering market.
A key differentiator is the company's application of its "Lessons Learned" system, which incorporates operational and engineering data accumulated from previous projects into new designs. By systematically analyzing past experiences and optimizing engineering processes, SHI has advanced the standardization of FLNG construction while improving project efficiency and execution quality.
Industry experts view standardization as a critical competitive advantage in the offshore sector, where each project typically involves highly customized engineering requirements. Greater standardization can help reduce costs, shorten construction schedules, and enhance overall reliability.
"FLNG projects represent one of the highest-value segments in the shipbuilding and offshore industries, with significant technological barriers to entry," an industry official said. "As experience accumulates, competitive advantages become more pronounced. Samsung Heavy Industries is strengthening its position through both execution capability and technological know-how."
The contract also reflects the broader recovery in offshore energy investment, driven by rising global demand for natural gas and the need for diversified energy supply sources.
With the latest order, Samsung Heavy Industries continues to build momentum toward its annual order target while reinforcing its standing as one of the world's leading FLNG builders.
