Daewoo Shipbuilding's deal for LNG FSRU revised to building LNG carrier instead

Daewoo Shipbuilding & Marine Engineering Co.'s deal with Japanese shipowner Mitsui OSK Lines (MOL) to build a liquefied natural gas (LNG) floating storage regasification unit (FSRU) has been revised to building a super-large LNG carrier instead.

The switch, which halved the deal's original price of 410.6 billion won to 226 billion won, became necessary after German utility firm Uniper canceled the Wilhelmshaven LNG import project.

Daewoo Shipbuilding clinched the deal with MOL on May 21, 2020.

MOL then signed a deal with LNG Terminal Wilhelmshaven, a fully-owned subsidiary of Germany's Uniper SE, to charter the FSRU.

The LNG carrier will be delivered by October 2023, the shipbuilder said.