News flash
- Samsung Heavy Industries, a major Korean shipbuilder, said on Monday that it has secured a deal worth 869.4 billion won ($637 million) to build an offshore production facility in Africa.
Samsung Heavy signed an initial contract with a European shipping company operating in Africa to construct a floating liquefied natural gas production facility in Mozambique, the company said in a press release. The final agreement will be signed at a later date, a company spokesperson said.
“Countries have shown increased interest in energy security following the Russia-Ukraine war, and investments in offshore energy production facilities are expected to grow amid U.S. President Donald Trump’s shifting energy policies,” the company said.
In the Council of Ministers of Mozambique approved the Development Plan of Eni’s US$ 7.2 billion Coral Norte FLNG Project. This marks the next step towards the exploration of natural gas resources from the Coral Eocene 441 deposit, located in Area 4 Offshore of the Rovuma Basin. The Coral Norte FLNG is anticipated to produce 3.5 million metric tons of LNG per annum (mtpa), with start-up slated for 2028. Read more
Author: Bryan Groenendaal
