SEOUL -- Samsung Heavy Industries said Wednesday it has won orders for 14 liquefied natural gas carriers worth 3.9 trillion won ($3 billion) as European countries reduce natural gas purchases from Russia and look for alternative sources of the fuel in the wake of the Ukraine invasion.

Orders received were for ships each with a tank capacity of 170,000 cu. meters. The scale of the orders coming in at one time is the largest ever for the South Korean shipbuilding industry. State-owned Qatar Petroleum, which has said it intends to order the vessels on a mass scale, appears to be among the customers.

Samsung Heavy Industries has received orders for 24 LNG carriers this year alone, reaching a value of $6.3 billion and achieving 72% of the annual order target.

Europe relies on Russia for 30% of its natural gas imports, which are delivered via pipeline. As an alternative, Europe plans to increase imports from the Middle East and Southeast Asia. As a result, the world's major maritime shipping lines are placing more orders for LNG vessels, benefiting South Korea's major shipbuilders.

But Samsung Heavy is still struggling with the legacy of loss-making orders made during the shipbuilding recession. The company suffered its seventh straight operating loss in 2021, at 1.31 trillion won. It is expected to take time before the current strong orders are reflected in the company's earnings.