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Karpowership places eighth FSRU conversion order
A new contract covers the conversion of LNGT Karadeniz, described as Karpowership’s first high-capacity FSRU
Karpowership has awarded a contract for a new floating storage regasification unit conversion, taking its tally with the Singapore yard to eight such projects, according to Seatrium.
Work is scheduled to start in the third quarter of 2026.
Seatrium said the vessel will be Karpowership’s first high-capacity FSRU, with regasification capacity of up to 600M standard cubic feet per day.
The stated scope includes installation of a regasification module, a spread-mooring system and supporting systems covering cargo handling, LNG offloading, utilities, electrical distribution, and automation and control.
Seatrium said the latest contract is part of the earlier letter of intent covering the conversion, life extension and repairs of three LNG carriers into FSRUs, together with the integration of four new-generation Powerships and an option for two more units.
Seatrium executive vice president, repairs and upgrades Alvin Gan said, “This contract win reinforces our global leadership, having done over 90% of the world’s FSU/FSRU conversions.”
He added, “It also reflects the continued trust from Karpowership and longstanding strategic partnership of both companies.”
Karpowership chief technical operations officer Gokhan Kocak said, “We are pleased to deepen our strong partnership with Seatrium as we expand our FSRU fleet to meet the highest industry standards.”
He added that the latest contract “marks an important milestone in Karpowership’s ambition to lead the global FSRU market in the coming years.”
The company said the award covers the conversion of LNGT Karadeniz and follows an earlier letter of intent announced in August 2025.
Seatrium also said it has completed and delivered FSRU LNGT Powership Oceania and has delivered a total of 23 FSRU and FSU conversion projects, while six FSRU conversions for Karpowership have already been delivered.
Karpowership as operating a fleet of 45 Powerships with installed capacity exceeding 8,000 MW. It also said the company has 11 LNG assets, including units in the pipeline, comprising FSRUs and LNG carriers.
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