Samsung Heavy Industries has signed the main contract for the Delfin FLNG Project, the first offshore LNG export project in the U.S.

The signing ceremony was held in Washington, D.C. on 9 June. It formalized the start of construction for Delfin FLNG Vessel 1, a $2.9 billion project disclosed by Samsung Heavy Industries on 2 June, and marked the completion of the Final Investment Decision for the first offshore FLNG project in U.S. history.

The project is expected to support the start of offshore FLNG business activity in the U.S. It is also expected to have a positive effect on the mid- to long-term sales growth of Samsung Heavy Industries, which has competitiveness in the FLNG sector.

Samsung Heavy Industries is in contract negotiations for the second and third FLNG vessels being promoted in sequence by Delfin Midstream. The talks are raising expectations for additional orders in North America and a stronger position in the LNG value chain.

The ceremony was attended by executives from global asset management, shipping and energy companies, including Choi Seong-an of Samsung Heavy Industries, Dudley Poston of Delfin Midstream, Jason Kalisman of Talisman Group, James Berner of BlackRock Global Infrastructure, Takeshi Hashimoto of MOL, and Carlos Wheelock of Vitol.

Government representatives included Kyle Houstveit of the U.S. Department of Energy, Steve Carmel of the U.S. Maritime Administration, and Kang Kyung-wha, South Korea’s Ambassador to the U.S.

Choi said global partners had shown confidence in Samsung Heavy Industries’ FLNG technology and project execution capability. He said the company would prove its capabilities through high-quality and strict delivery performance.