Hyundai Heavy ships the first LNG-fuelled GENSET 40GV Engine - Eco Friendly

Ulsan, Korea-based Hyundai Heavy Industries has completed test runs and started shipping the eco-friendly gas-fuelled Himsen H35/40GV engine. The first example is destined for a power plant in the Middle East.

The H35/40GV has been designed for power generation, and HHI says that it is intended for use onboard commercial ships, and in offshore facilities including drillships, as well as in onshore power plants,. The new gas engine runs on LNG rather than heavy fuel oil and has a maximum power output of 13,000bhp.

HHI says that the engine emits 20% less CO2 than diesel engines, and reduces NOx emissions by 97%. NOx emissions of 50ppm are claimed to be the world's lowest, while HHI also claims an engine efficiency improvement of 47%.

Kim Jeong-hwan, COO of Hyundai's engine & machinery division said: "Due to high oil prices and strengthening regulations on emissions, the demand for gas engines is increasing. We expect these high-output gas engines to help Hyundai Heavy expand our product lines, diversify target markets, and boost sales."

With a 35% share of the diesel engine market, Hyundai Heavy plans to be in the top three for gas engines with a 15% market share by 2013.

Hyundai Engineering wins $2.9 B USD Puerto La Cruz refinery deal – Venezuela

Hyundai Engineering & Construction Co., Ltd (HDEC), Hyundai Engineering Co., Ltd (HEC) together with the Chinese Wison Engineering have been retained to extend and streamline a refinery in Venezuela, for a total value of $ 2.9 billion US Dollars.

The project to expand Puerto La Cruz refinery is scheduled for 42 months.

The state run oil holding Petróleos de Venezuela already gave the order for the works.

"The project construction will start as soon as the company signs the formal agreements, expected at the end of July 2012."

USA: Hyundai Heavy Indus wins US$600m orders for oil, gas rigs

Hyundai Heavy Industries (HHI), the world's largest shipbuilder in South Korea, has won three orders worth a total US$600 million to build oil and gas rigs.

Hyundai Heavy had won a US$400 million order for a 35,000-tonne offshore oil platform scheduled to be delivered by August 2015.

The other two orders are each worth US$100 million. One is to build a semi-submersible drilling rig for LLOG of the United States, which has an option exercisable to order an additional structure.

The other is for six "land plant modules" capable of producing 200 million cubic feet of natural gas and 10,000 barrels of oil a day for an unnamed U.S. oil major, with scheduled delivery in June 2015