DSME to build icebreaking LNG ship

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DSME to build icebreaking LNG ship

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DSME President and CEO Ko Jae-ho, left, and Sovcomflot Chairman Sergey Frank shake hands after signing an icebreaking LNG carrier order in Moscow, Russia, over the weekend. Provided by the company

Daewoo Shipbuilding and Marine Engineering said yesterday it won a 339.3 billion won ($317 million) order from Russia’s state-run shipper Sovcomflot to build an icebreaking liquefied natural gas carrier.

DSME said it is the world’s first order for a 170,000-cubic-meter (6 million cubic feet) icebreaking LNG ship with a delivery date of June 30, 2016.

It will be manufactured at Okpo Shipyard in Geoje, South Gyeongsang.

The company said the vessel will be used in the Yamal project under which Russia’s Novatek, France’s Total and China’s National Petroleum Corporation are developing the Yamal Peninsula in Western Siberia for natural gas.

These companies plan to produce 16.5 million tons of LNG a year.

DSME last July signed a slot reservation agreement, which reserves docks for vessel construction, for 16 icebreaking LNG carriers.

DSME has had a close relationship with Sovcomflot, which manages LNG carriers for the Yamal project, after receiving orders for 15 oil or LNG carriers since 2004.

The Korean shipbuilder recently established a branch in Moscow.

“By winning the world’s first order for an ARC-7 icebreaking LNG carrier, DSME again proved its superb technology,” said DSME President and CEO Ko Jae-ho. “We have now successfully entered the Arctic Ocean market with this contract and can build a new relationship with other energy companies like Novatek and Total.”

With the latest order, DSME has so far secured orders for 15 vessels worth $1.74 billion this year

BY joo kyung-don [kjoo@joongang.co.kr]

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