Hyundai Heavy Industries Group Gets New Gas Contracts

Hyundai Heavy Industries Group said Tuesday it has clinched deals for five natural gas carriers, valued at a combined US$ 1.1 billion this year.

Hyundai Heavy Industries Co., the group’s flagship and the world’s largest shipbuilder, won a deal to build a liquefied natural gas (LNG)-floating storage regasification vessel for Hoegh of Norway.

In a separate deal with an unidentified European client, the shipmaker will build two LNG carriers as well.

Hyundai Samho Heavy Industries Co., a unit of the shipbuilding conglomerate, also received an order to build two LNG carriers from Golar LNG Energy Ltd.

Hyundai Heavy did not reveal the value of each contract.

The vessels will be delivered starting from the second quarter of 2014, Hyundai Heavy said.

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