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Samsung Heavy snags $3bn in orders for 14 LNG carriers

South Korean shipbuilders benefit as Europe seeks alternatives to pipeline gas

An LNG carrier built by Samsung Heavy. (Photo courtesy of Samsung Heavy Industries)

SEOUL -- Samsung Heavy Industries said Wednesday it has won orders for 14 liquefied natural gas carriers worth 3.9 trillion won ($3 billion) as European countries reduce natural gas purchases from Russia and look for alternative sources of the fuel in the wake of the Ukraine invasion.

Orders received were for ships each with a tank capacity of 170,000 cu. meters. The scale of the orders coming in at one time is the largest ever for the South Korean shipbuilding industry. State-owned Qatar Petroleum, which has said it intends to order the vessels on a mass scale, appears to be among the customers.

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