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Moon hails S. Korea's LNG barge contract with Russia

All News 16:40 June 09, 2020

SEOUL, June 9 (Yonhap) -- President Moon Jae-in has welcomed the news of a South Korean shipbuilder's contract with a Russian company to construct two huge liquefied natural gas (LNG) barges, saying the deal reflects South Korea's competitiveness in the field, Moon's office said Tuesday.

Moon received a report on the 900-billion-won (US$748 million) deal, under which Daewoo Shipbuilding & Marine Engineering Co. will build two 360,000-cbm LNG barges for a Russian shipper, Cheong Wa Dae deputy spokesman Yoon Jae-kwan said at a press briefing.

The president was quoted as saying that the deal is "good news" to remind the world that South Korea has the world's top competitiveness in the LNG barge sector.

It marks the first time that South Korea has won LNG barge orders from Russia, Yoon pointed out.

It's "even more meaningful" that the contract was based on increased trust in South Korea's ship-producing technology following the delivery of 15 ice-breaking LNG carriers to Russia, the official added.

Last week, Daewoo and two other South Korean shipbuilders -- Hyundai Heavy Industries and Samsung Heavy Industries -- clinched a deal with Qatar to build 100 LNG vessels.

Yoon described it as signaling the revival of the country's shipbuilding industry.

Cheong Wa Dae deputy spokesman Yoon Jae-kwan holds a press briefing in this undated file photo. (Yonhap)


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