For illustration only (Image: HD Hyundai Heavy Industries)
1 minute read

HD Hyundai Heavy scores order to build FSRU for $364 million

South Korean shipbuilder HD Hyundai Heavy Industries has won a contract to build one floating storage and regasification unit (FSRU) for about $364 million.

HD Korea Shipbuilding & Offshore Engineering said on Wednesday that its unit HD Hyundai Heavy Industries will build the 174,000-cbm FSRU for an owner in Europe.

The contract has a price tag of 483.9 billion won or about $364 million, and Hyundai Heavy will deliver the FSRU by July 2027.

KSOE did not reveal any additional information regarding the new order.

This price is probably the highest price to date for a single FSRU of this or similar size.

Prior to this order, US LNG firm Excelerate Energy booked a newbuild FSRU at Hyundai Heavy in October 2022 and this deal is worth about $332 million.

Japan’s shipping giant MOL could be behind the new order for this FSRU but LNG Prime could not confirm this by the time this article was published.

MOL declined to comment on the FSRU order.

Poland’s Gaz-System recently selected MOL as the preferred shipowner to time charter out an FSRU for the planned LNG import terminal in Gdansk.

Also, Gaz-System said it plans to start commissioning of the complete project backed by the EU in 2027/2028, and the delivery of the new FSRU fits this timeline.

This is Poland’s first FSRU and will add to the existing onshore Swinoujscie LNG terminal.

Poland’s Orlen previously booked entire 6.1 bcm per year of regasification capacity at Gaz-System’s planned FSRU-based LNG import facility.

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