Malaysian national oil company Petronas will pay KRW 1.56 trillion ($1.5bn) to receive the project by January 2018,the Korean shipbuilder said in an exchange filing today.

As TradeWinds reported yesterday Petronas awarded the engineeringcontract for the 1 million tonnes per annum (mtpa) unit to a consortium of SHIand Japan’s JGC Corp.

This will be Petronas’ second FLNG unit following the 1.2mtpa floater awarded to Korea’s DSME.