BW Maritime and Samsung Heavy Industries signed a ship-building contract on Friday for BW’s first Liquefied Natural Gas Floating Storage Regasification Unit (LNG-FSRU). When delivered in 2015, this vessel and floating terminal will be able to receive and convert LNG into its gaseous form for offloading via pipelines, to gas facilities on-shore.
Bermuda-based Golar LNG, a competitor of BW Maritime, reported strong demand for FSRUs last year noting over two dozen new projects were currently being developed, particularly in the Middle East. Golar currently has two FRSU’s on order, due for delivery in 2013 and 2014 respectively. In addition, Golar has 11 LNG carriers under construction, all due to be delivered in the next two years.