Samsung Heavy Industries, one of South Korea’s largest shipyards, announced on Monday, July 7, the signing of a contract worth 637 million dollars (40.8 billion meticais) for the construction of a floating liquefied natural gas (LNG) production unit off the coast of Mozambique, according to the South Korean news agency Yonhap.
According to a company statement, this is a preliminary contract signed with a European shipping company operating in Africa. Samsung Heavy Industries will be responsible for constructing an LNG floating production platform, with the final phase of the agreement to be formalized at a later date.
The company emphasizes that the growing global geopolitical instability, particularly the war between Russia and Ukraine, has sparked greater international interest in energy security. In this context, Samsung Heavy Industries expects that “investments in offshore energy production infrastructure will increase significantly, especially given recent changes in the United States energy policy under President Donald Trump’s leadership.”
The shipbuilder aims to secure between one and two orders per year for offshore energy production infrastructure in various international markets.
This year, Samsung Heavy Industries has already secured orders worth about 3.3 billion dollars (211 billion meticais), representing 34% of its annual target of 9.8 billion dollars (627 billion meticais). In 2024, the company secured contracts worth 7.3 billion dollars (467 billion meticais). Samsung Heavy Industries’ accumulated order backlog totaled 26.5 billion dollars (1.7 trillion meticais) at the end of June, ensuring activity at its shipyards for the next three years.
It is worth noting that on the afternoon of June 11, the President of the Republic, Daniel Chapo, received in his office the CEO of the Italian multinational Eni, Claudio Descalzi, in an audience that reaffirmed the solid partnership between the country and the energy company. The meeting focused on the expansion of the Coral North project and the implementation of new initiatives in the agricultural sector, with high potential for job creation.
According to a press release from the Presidency of the Republic, at the end of the meeting, Descalzi announced that Eni had obtained official government authorization for the Development Plan of the Coral North FLNG project. This is a “decisive step that will significantly increase liquefied natural gas (LNG) production from Area 4 of the Rovuma basin.” “Coral North is the future, and the President brought very interesting and important news, as we obtained authorization for the Development Plan with all terms agreed. This means Coral North is now a reality,” stated Eni’s CEO.
Source: DE
