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Steelhead LNG awards FEED contract for floating LNG terminal hulls to Hyundai Heavy Industries

BARCELONA, SPAIN – Steelhead LNG announced today that it has signed a contract with Hyundai Heavy Industries for the Front-End Engineering and Design of two At-Shore LNG™ hulls for its proposed Kwispaa LNG Project.

Kwispaa LNG is a proposed LNG export facility located at Sarita Bay on the west coast of Vancouver Island. With a Final Investment Decision anticipated in 2020, the first phase of the project is expected to be operational in 2024.

On Wednesday, representatives from Steelhead LNG, the Huu-ay-aht First Nations, and Hyundai Heavy Industries’ Shipbuilding Division formalized the contract for the design of the two At-Shore LNG™ hulls at the Gastech Conference in Barcelona.

Each hull is expected to measure 340 metres in length, 60 metres in width, and feature five individual tanks that provide approximately 280,000 cubic metres of liquified natural gas storage.

“This agreement with Hyundai Heavy Industries for two At-Shore LNGTM hulls again demonstrates the technological innovation and creative solutions that we are developing as part of the Kwispaa LNG Project to offer Asia-Pacific buyers with cleaner and competitively priced LNG from Canada,” said Steelhead LNG CEO Nigel Kuzemko. “Our goal is to help meet the world’s rising demand for LNG and reduce worldwide greenhouse gas emissions. At the same time, with our co-management partners, Huu-ay-aht First Nations, we are committed to working with all levels of government to realize the tremendous potential benefits the Kwispaa LNG Project can provide to local communities, British Columbia, and Canada.”

The awarding of the contract is the start of the process leading to the construction of two At-Shore LNG™ hulls at a total price of US$500 million.

“As a global leader in the shipbuilding industry, we are tremendously pleased to be partnering with Steelhead LNG for the design of the At-Shore LNGTM hulls for the Kwispaa LNG Project,” stated Hyundai Heavy Industries. “This agreement is a reflection of our world-leading technical and manufacturing capabilities, and we look forward to proceeding into FEED for this important project.”

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