Latest Karpowership FSRU named as Seatrium inks LoI for further conversions

Floating power plant firm Karpowership has seen the latest of its floating storage and regasification unit (FSRU) conversion projects delivered during a naming ceremony at Singapore’s Seatrium shipyard. 

Seatrium delivered Karpowership’s LNG Terminal Ship (LNGTS) Karadeniz LNGTS Americas on 14 August while also firming up future work with Karpowership. The vessel is expected to be deployed in the Americas region for use with one of the firm’s dozens of Powerships for LNG-to-power generation.

According to Karpowership, its LNGTS units are designed to be paired with its Powerships, "which are multi-fuel enabled, to deliver electricity in regions where onshore infrastructure is limited and access to natural gas is absent".

The Karadeniz LNGTS Americas vessel is the fifth FSRU conversion project undertaken by Seatrium for Turkey-headquartered Karpowership, and coincided with the signing by the two companies of a letter of intent (LoI) signalling Karpowership’s continued expansion of its LNG-centred fleet and a strong potential pipeline of work for Seatrium.  

"Today, Karpowership represents 1% of global installed gas-to-power capacity and aims to double that to 2% in the next 10 years. As a part of this plan, the company signed a letter of intent with Seatrium to expand its floating power capabilities," a Karpowership statement said.

According to the LoI, Seatrium will be contracted to convert three LNGTS vessels and at least four of Karpowership’s ’next generation’ of Powerships, with two optional projects intended for inclusion in the contract. The plan for the new Powerships is for them to be modular in design, allowing for adaptation to suit different projects. Karpowership also said the new design "will allow for the integration of advanced technologies such as carbon capture, utilisation, and storage systems or turbines when required".

Seatrium published the letter of intent for its investors, adding further detail around the foreseen contracts. The letter’s terms say Karpowership will deliver the hulls and key equipment for the four firm Powerships to Seatrium Singapore, where integration works will begin in Q1 2027. Seatrium’s scope of work includes mechanical and electrical, equipment integration, mechanical completion and precommissioning.

The agreement also includes the conversion, life extension and repairs of three LNG carriers into FSRUs. This involves the installation of regasification modules, spread-mooring systems, and the integration of critical supporting systems such as cargo handling, offloading, utility, electrical and automation systems.

In total, including projects in planning stages, Karpowership’s fleet numbers 50 Powerships with an installed capacity of 10,000 MW and 11 LNGTS units.

The most recent partnership agreement between Karpowership and Seatrium follows closely on the heels of a formal contract agreement for an FSRU conversion in early July 2025.

The initial five LNGTS conversion projects have been managed by Kinetics, Karpowership’s energy transition arm, and the July FSRU conversion contract was for a vessel to be named LNGT Turkiye, with the scope of work as previously described. Karpower originally awarded Seatrium a contract for conversions of three LNGCs into FSRUs, with an option for a fourth project.