Seatrium has been awarded the conversion of Karpowership's LNGT Akdeniz into a floating storage and regasification unit (FSRU), marking the ninth FSRU conversion project between the companies.
Work on LNGT Akdeniz is scheduled to start in the first quarter of 2027, with Seatrium responsible for engineering, conversion, integration, installation and commissioning of the vessel's regasification equipment and associated systems.
The converted vessel will have regasification capacity of up to 600 million standard cubic feet per day and will join the LNG fleet of Kinetics, Karpowership's energy transition initiative.
LNGT Akdeniz is the second project to materialize under a previously announced letter of intent between Seatrium and Karpowership, following the award of the LNGT Karadeniz conversion.
The LOI covered three potential FSRU conversions as well as the potential integration of up to six new-generation Powerships.
Seatrium has delivered seven FSRUs to Karpowership since the companies began working together in 2018. LNGT Karadeniz, their eighth FSRU project, is currently undergoing conversion.
The latest award follows the naming and sail-away of LNGT Türkiye and will bring Kinetics' LNG fleet, including vessels in the pipeline, to 12 LNG assets comprising FSRUs and LNG carriers.
“What began as a bold vision in 2018 has evolved into a strong and enduring partnership built on trust, shared success and a commitment to excellence. The award of LNGT Akdeniz, our ninth FSRU project with Karpowership and the second unit in Karpowership’s next-generation FSRU series, is a testament to the strength of this collaboration and further reinforces Seatrium’s position as a global leader in floating LNG infrastructure solutions,” said Alvin Gan, Seatrium’s Executive Vice President for Repairs and Upgrades.
Seatrium has completed 22 FSRU and floating storage unit conversion projects since 2007. Karpowership operates a fleet of 45 Powerships with more than 8,500 MW of installed capacity.