South Korea’s Daewoo Shipbuilding & Marine Engineering has won an order to build floating liquefied natural gas storage facilities for Russia’s LNG producer Novatek.
Under the deal, Daweoo will build two untits for about 901.3 bn won ($748.2 mn) with an option for two additional units.
The floating LNG storage and transshipment units will serve Novatek’s projects under development in Murmansk and Kamchatka that the Russian company will develop with Japan’s Mitsui O.S.K. Lines
The floating units will transship Yamal and Arctic 2 cargoes from Arctic class LNG tankers to conventional carriers.
DSME expects to deliver the two LNG storage units by the end of 2022.