On Oct. 5, 2026, Seatrium Limited and Karpowership announced that they are advancing their long-standing collaboration with the ninth Floating Storage Regasification Unit conversion project, named LNGT Akdeniz.

Announcement of the Ninth FSRU Project

The announcement follows the successful naming and sail-away of LNGT Türkiye. The vessel will form part of the LNG fleet of Kinetics, which is described as Karpowership's energy transition initiative.

According to the company, the award follows the delivery of seven FSRUs since 2018 and the ongoing conversion of LNGT Karadeniz, the partnership's eighth FSRU project.

Project Scope and Timeline

The newly awarded LNGT Akdeniz project involves the conversion of an LNG carrier into an FSRU. Work is scheduled to commence in the first quarter of 2027. Seatrium's scope includes the engineering, conversion, integration, installation, and commissioning of regasification equipment and associated systems.

Upon completion, LNGT Akdeniz will enhance LNG import and regasification capabilities in its target market, supporting energy security and a reliable supply of cleaner energy. Alvin Gan, Executive Vice President, Repairs and Upgrades at Seatrium, stated that LNGT Akdeniz features a regasification capacity of up to 600 MMscfd.

The release identifies LNGT Akdeniz as the second unit in Karpowership's next-generation FSRU series. Seatrium describes the project as a testament to the strength of the collaboration between the two companies.

Partnership Milestones and Letter of Intent

The company describes 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.

LNGT Akdeniz is the second project to materialize under a previously announced Letter of Intent between the two parties, following the award of LNGT Karadeniz. Apart from three FSRU conversions, the Letter of Intent had also provided for the potential integration of up to six new-generation powerships, creating opportunities for both companies to support evolving global energy needs through integrated floating energy solutions.

Seatrium has a track record of 22 successful FSRU and FSU conversion projects completed since 2007. The company states that this positions Seatrium as a global leader in floating LNG infrastructure solutions, setting industry benchmarks in engineering excellence and project execution.

Executive Statements

Gokhan Kocak, Chief Technical Operations Officer of Karpowership, said that the successful delivery of LNGT Türkiye and the award of LNGT Akdeniz are important milestones in the continued growth of Karpowership's LNG-to-Power business.

He added that together, these FSRUs strengthen the company's ability to provide reliable and flexible energy solutions to markets where energy security is critical.

Kocak noted that Seatrium has been a key enabler of this journey, consistently delivering high-quality FSRU conversions that support Karpowership's operational requirements and long-term growth plans.

As global demand for flexible energy infrastructure continues to grow, Kocak said the company looks forward to advancing ongoing projects and exploring new opportunities together.

Alvin Gan, Executive Vice President, Repairs and Upgrades at Seatrium, said the award of LNGT Akdeniz, the ninth FSRU project with Karpowership and the second unit in Karpowership's next-generation FSRU series, is a testament to the strength of the collaboration.

Gan said the award further reinforces Seatrium's position as a global leader in floating LNG infrastructure solutions. He added that LNGT Akdeniz will play a vital role in supporting reliable and flexible energy supply. Gan expressed gratitude to Karpowership for its continued trust and confidence in Seatrium and said the company looks forward to building on the successful partnership to deliver innovative energy solutions for the future.

Kinetics Fleet Expansion

Kinetics, Karpowership's energy transition initiative, will expand its LNG fleet to 12 vessels with the addition of LNGT Akdeniz. The release states that this addition is part of a broader effort to support reliable and flexible energy solutions in markets where energy security is critical. The companies describe their combined capabilities as reinforcing the ability to deliver integrated floating power and LNG infrastructure across global markets.

Company Profiles and Fleet Details

Karpowership is described as a global energy company specializing in fast-track and integrated power solutions. The company operates the world's only Powership fleet, comprising 45 vessels, with a total installed capacity exceeding 8,500 MW.

According to the release, Karpowership is the only owner, operator, and builder of the world's only Powership fleet and offers a plug-and-play solution that can be directly connected to the grid and start generating electricity in less than 30 days.

In addition to its Powerships, Karpowership offers floating LNG solutions, with a fleet of 12 LNG assets, including the ones in the pipeline, composed of FSRUs and LNG carriers. The company's LNG-to-Power model supports a cleaner and flexible energy future. Karpowership has over 30 years of experience.

Seatrium Limited is headquartered and listed in Singapore and is a leading provider of specialised engineering solutions for the global offshore, marine, and energy sectors.

The company has over 60 years of proven expertise and operates across 15 countries through an integrated network of advanced yards, engineering and technology centres. The release states that Seatrium plays a pivotal role in delivering offshore energy infrastructure assets globally that is the backbone of some of the world's essential energy systems.

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