Korea’s Samsung Heavy Industries has cancelled a contract for an LNG FPSO worth KRW 907.6bn ($774.5m).
It said the European client failed to meet terms to proceed with the unit, which was ordered in January 2009.
Dutch group SBM Offshore has previously been linked to the deal.
SBM told TradeWinds in January 2009 that it had signed up to an option to build a 2.5m-tonnes-per-annum
