South Korea has announced securing a significant contract to construct offshore liquefied natural gas facilities for the United States, valued at $2.8 billion.

The order was confirmed by the South Korean government on Thursday. A consortium comprising government bodies, public institutions, and private companies has been awarded the contract to build a floating LNG facility in Louisiana, USA.

Samsung Heavy Industries is the primary contractor for the project, although the client's identity has not been disclosed by the South Korean authorities.

A floating LNG facility is an offshore floating structure used for the production and related operations of liquefied natural gas during offshore gas development.

This major US project, with a total cost of $4.8 billion, is designed to produce 4.4 million tons of LNG annually in waters near Louisiana. The construction phase is expected to last five years, with a planned operational lifespan of 25 years.

To support Samsung Heavy Industries' bid for the engineering, procurement, and construction contract, a group of Korean entities—including the Korea Overseas Infrastructure & Urban Development Corporation, the Green Fund, and the Korea Ocean Business Corporation—jointly invested $150 million into a fund led by global asset manager BlackRock.

Samsung Heavy Industries has stated that, upon receiving the notice to proceed from the client, it plans to commence construction with the aim of delivering the facility by July 2030.