□ The Ministry of Land, Infrastructure and Transport (MOLIT, Minister Kim Yun-duk), the Ministry of Climate, Energy and Environment (MCEE, Minister Kim Sungwhan), and the Ministry of Oceans and Fisheries (MOF, Minister Hwang Jongwoo) announced that “Team Korea,” a joint effort involving companies, the government, and public institutions, successfully secured the order on Monday, June 1 (local U.S. time) for the first phase of the U.S. Louisiana FLNG* offshore plant construction project, valued at USD 2.8 billion (approximately KRW 4 trillion).

* Floating Liquefied Natural Gas (FLNG): A floating offshore plant equipped with natural gas liquefaction facilities. Constructed at a domestic shipyard and installed at the project site, it performs the liquefaction, storage, and offloading of natural gas produced from offshore gas fields.

ㅇ For this project, the Korea Overseas Infrastructure & Urban Development Corporation (KIND), the Green Fund, and the Korea Ocean Business Corporation invested in a fund led by BlackRock (the world’s largest global asset manager) and participated as financial investors, supporting the financial structuring of the project and thereby helping Korean companies* secure the EPC (engineering, procurement, construction) contract.

* Samsung Heavy Industries has secured orders for six of the 10 FLNG units awarded worldwide (with three currently in operation and three under construction), and this additional contract is expected to further strengthen its leading position in the FLNG market.

ㅇ The project will incorporate Korean companies’ environmentally friendly engineering technologies, including selective catalytic reduction (SCR), which reduces emissions by converting nitrogen oxides contained in exhaust gases generated from fuel combustion into nitrogen and water through a catalyst, and heat recovery steam generators (HRSGs), which maximize energy reuse by recovering waste heat and using it to produce steam and electricity.

지분투자 ｜ Equity Investment

KIND ｜ KIND

녹색인프라펀드 ｜ Green Infrastructure Fund

해양진흥공사 Korea Ocean Business Corporation

기타투자자 ｜ Other Investors

블랙록 펀드 ｜ BlackRock Fund

해외 투자자 ｜ Overseas Investors

미국 정부 U.S. ｜ Government

FLNG  사업허가 ｜ FLNG Project Approval

LNG 수출허가 ｜ LNG Export Approval

LNG 구매자 ｜ LNG Offtaker

LNG  구매판매계약 ｜ LNG Sale and Purchase Agreement

특수목적법인(SPC) ｜ Special Purpose Company (SPC)

대주단 ｜ Lenders

대출 ｜ Loan Facility

삼성중공업 ｜ Samsung Heavy Industries

EPC계약 ｜ EPC Contract

사업주 ｜ Project Owner

□ This project is particularly significant in that it not only enabled Korean companies to secure a major infrastructure contract through close collaboration among private companies, three government ministries, and two public institutions, but also expanded the foundation for future entry into the U.S. energy infrastructure market.

ㅇ Given that this project is an investment development initiative encompassing the entire process, from financing and construction to operation, it is expected to serve as a pivotal turning point in transforming the overseas construction sector from a traditional contract-based industry into a high-value-added, integrated industry.

ㅇ Furthermore, considering that the manufacturing, shipbuilding, and assembly work will be carried out domestically, the project is also expected to contribute to revitalizing local economies through a ripple effect of contract opportunities for small and medium-sized enterprises and mid-sized companies.

□ This case illustrates that participation in major overseas infrastructure projects can contribute not only to winning construction contracts but also to enhancing supply chain resilience.

ㅇ Accordingly, amid growing supply chain uncertainties stemming from the potential closure of the Strait of Hormuz, the government also plans to actively pursue the diversification of import sources and the strengthening of transportation networks through the securing of overseas infrastructure.

□ The government stated, “Government ministries and public institutions will work as one team, serving as partners to Korean companies advancing overseas on the strength of their technological capabilities. We also hope to actively identify future collaborative opportunities based on the partnerships with global developers established through these negotiations.”

ㅇ The government also stated, “We will spare no policy support to help the overseas construction industry transform into a high-value-added sector that provides quality jobs,” adding, “In particular, we will strengthen our capacity to address global supply chain challenges by expanding overseas investments in infrastructure such as energy and ports.”

LNG 밸류체인  내 FLNG 역할 ｜ The Role of FLNG in the LNG Value Chain

Upstream  공급 및 운송 ｜ Upstream Supply and Transportation

파이프라인 ｜ Pipeline

FLNG ｜ FLNG

선적, 액화,  하역 ｜ Loading, Liquefaction, and Offloading

LNGC ｜ LNGC

운송 ｜ Transportation

FSRU ｜ Floating Storage and Regasification Unit

최종 사용자 ｜ End Users

For further information, please contact the Public Relations Division. 

Contact person: Gina Lee, foreign media spokesperson

Phone: +82-44-201-6055

Email: gcjgina @gmail.com