SEOUL, April 16 (Yonhap) — Daewoo Shipbuilding & Marine Engineering Co. said Friday that its deal to build a liquefied natural gas (LNG) floating storage regasification unit (FSRU) has been changed, with the value of the contract halved.

On May 21, 2020, Daewoo Shipbuilding clinched the deal to build the offshore facility for an Oceanian company, but under the revised terms, it will build an LNG carrier.

The revised deal is valued at 226 billion won (US$202 million), a sharp cut from the original price of 410.6 billion won.

The LNG carrier will be delivered by October 2023, the shipbuilder said.