KIND

KIND Begins Full-Scale Financial Close of Louisiana FLNG Project in the U.S. 

Driving Joint Expansion of Korea’s Shipbuilding and Financial Industries

- Participating in the first-ever FLNG project in the United States, valued at approximately KRW 7 trillion; additional follow-up investments under consideration -

The Korea Overseas Infrastructure & Urban Development Corporation (KIND), led by CEO Bokhwan Kim, announced that it is accelerating the financial close of the Floating Liquefied Natural Gas (FLNG) project currently being developed in the Gulf of Mexico off Louisiana, United States, based on expanded investment.

To facilitate smooth project implementation and broaden opportunities for Korean companies, KIND approved an investment of approximately USD 70 million in December last year. Based on this, final negotiations for the Final Investment Decision (FID) are currently in their final stages.

This project involves the production of approximately 4.4 million tons of LNG annually at a site located about 76 km offshore from Louisiana. It is considered to have a stable business structure, supported by long-term Sales and Purchase Agreements (SPA).

In particular, through its investment, KIND is taking a leading role in structuring the project alongside global asset manager BlackRock, a policy fund under the Ministry of Environment (Green Infrastructure Overseas Expansion Fund), and Hanwha Asset Management. Through this effort, KIND has strongly supported Samsung Heavy Industries in securing the EPC contract for the first FLNG unit, thereby creating opportunities for Korean shipyards and equipment suppliers to enter the global market.

This project is expected to expand beyond the first unit to include subsequent FLNG units (2 and 3). At the Indo-Pacific Energy Ministers’ Meeting (IPEM) recently held in Japan, the U.S. Export-Import Bank (US EXIM) announced its plan to provide financial support for the follow-up projects, further enhancing the project’s credibility and financial stability. KIND plans to strengthen its position in the U.S. energy infrastructure market through continued collaboration with US EXIM.

This project is particularly significant in that it goes beyond the traditional construction-focused overseas expansion model and represents an “investment development model,” where ▲equity investment ▲financing ▲EPC ▲operations are organically integrated. Moreover, backed by KIND’s strategic and proactive investments in sectors where Korean companies have strong competitive advantages, it is regarded as a successful example of an integrated “K-Infrastructure” export model.

A KIND official stated, “This FLNG project is a case that simultaneously promotes the global expansion of Korean companies with advanced technologies and financial collaboration,” adding, “KIND will continue to identify economically viable overseas investment development projects to support the global expansion of Korean companies and expand our footprint in the U.S. infrastructure market.”