Singapore’s Seatrium has won a floating storage regasification unit (FSRU) conversion contract with Kinetics, an energy transition initiative by Türkiye’s floating power plant company Karpowership.
Scheduled to start in Q3 2025, the contract entails the conversion of a liquefied natural gas (LNG) carrier (LNGC) into an FSRU named LNGT Turkiye . The project will see Seatrium install a regasification module, a spread-mooring system, and integrate key supporting systems such as cargo handling, offloading, utility, electrical, and automation systems.
Alvin Gan , Executive Vice President, Repairs and Upgrades, Seatrium, said: “We truly appreciate the trust from Kinetics in awarding us this important seventh FSRU project. This contract is a testament to the successful strategic partnership between our companies, that includes four projects delivered to date: Karmol LNGT Powership Africa, Asia, Europe, and most recently, Antarctica.”
Gan added that two more FSRU conversion projects for Kinetics are in progress at the company’s yard, with deliveries scheduled later this year and in Q1 2026. He believes these projects underscore his company’s commitment to innovation, further cementing its position in the FSRU conversion sector.
Mehmet Katmer , Chief Executive Officer of Kinetics, said: “We are pleased to strengthen our excellent partnership with Seatrium as we expand our FSRU fleet to meet the highest industry standards. Seatrium’s proven track record, engineering expertise, and technical capabilities make them an invaluable partner in supporting our mission to deliver reliable and sustainable energy solutions worldwide.”
Kinetics also confirmed the option for a fourth FSRU conversion project with Seatrium, announced last April together with three firm conversion deals.
Meanwhile, Seatrium recently held a sailaway ceremony for a floating production storage and offloading (FPSO) that is set to join six other units at Petrobras’ Búzios field offshore Brazil.