(MENAFN) US Excelerate Energy has signed a deal to lead a floating liquefied natural gas (FLNG) project off the coast of Equatorial Guinea, Yonhap News reported.
The agreement includes the key participation of South Korea's shipbuilder Samsung Heavy Industries, with Excelerate Energy acting as the group's leading contractor in the deal.
The project, with an estimated value of USD2 billion, is expected to annually produce up to 3 million tons of LNG for 20 years starting in 2019, according to Excelerate's website.
"We expect to sign an agreement (with Excelerate Energy) within the next year after it draws up the front-end engineering design," a Samsung Heavy Industries official said.
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