Samsung Heavy Industries said Wednesday it has won orders for 14 liquefied natural gas (LNG) carriers worth 3.9 trillion won ($3 billion) as European countries cut natural gas imports from Russia and seek alternative sources of the fuel in the wake of the Ukraine invasion, reported Nikkei Asia.
Orders received were for LNG vessels each with a capacity of 170,000 cubic meters. The scale of the orders coming in at one time is the largest ever for the South Korean shipbuilding industry, noted the business publication. State-owned Qatar Petroleum, which has said it plans to order LNG ships on a mass scale, appears to be among the customers.
Samsung Heavy Industries has received orders for 24 LNG carriers this year alone, hitting a value of $6.3 billion and achieving 72% of the yearly order target.
New orders for LNG vessels are surging as European countries seek to reduce their demand for Russian piped gas imports. As an alternative, they plan to import more seaborne LNG.