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Samsung Heavy makes big sale to a mystery client

Nov 26,2019
Samsung Heavy Industries signed a $1.5 billion deal to supply a liquefied natural gas (LNG) carrier to a client in an undisclosed country somewhere in Europe or Asia.

Samsung refused to identify the buyer under the terms of the sales agreement.

The contract will run through September 2022.

Samsung Heavy Industries is aiming for $7.8 billion of sales this year. That brings the company’s total sales this year to $6.9 billion, which is already higher than the $6.3 billion in total from last year, according to Samsung Heavy Industries.

“Sales of LNG carriers and crude oil carriers is projected to continue to increase due to the environmental regulations,” said a spokesperson for Samsung Heavy Industries in a statement. “We will do our best to achieve this year’s goal for the planned output.”

By Jin Min-ji