Samsung Heavy Industries said on July 11 it will build a research and development facility to boost its competitiveness in technologies related to liquefied natural gas.
The shipbuilder said it has started construction of a LNG system test facility at its shipyard in Geoje, some 400 kilometers south of Seoul. It plans to complete the facility by December 2020.
Samsung Heavy said the facility will test and verify the company’s various LNG-related technologies, including liquefaction of gases and cryogenic storage systems, used in ships and offshore plants.
The shipbuilder said such a facility will bolster its competitiveness since it can quickly apply new technologies and save on costs by using its own systems.
Samsung Heavy has so far won orders for 10 LNG carriers this year, the most among any shipbuilder.
By Ram Garikipati and newswires (firstname.lastname@example.org)