Seatrium and Karpowership agree powership and FSRU projects

Seatrium and Karpowership have signed a letter of intent (LOI) covering the integration of four new powerships and the conversion of three LNG carriers into floating storage and regasification units (FSRUs). The agreement was signed in Singapore on August 14.

Under the deal, Seatrium Singapore will carry out electrical and mechanical integration of four new-generation powerships, with options for two further units. Work will begin in early 2027 once hulls and key equipment are delivered.

The FSRU conversions will include regasification modules, spread-mooring systems, and upgrades to cargo handling, offloading, electrical, and automation systems.

Alvin Gan, executive vice president at Seatrium, said: “This LOI marks a pivotal step in our journey to build a global franchise in floating power infrastructure. With four FSRUs delivered, a fifth due later this month, and two more underway, we are proud to be a long-term trusted partner in delivering greener energy.”

Karpowership’s chief technical operations officer, Gokhan Kocak, added: “We are developing our third generation powerships with a modular system that can be adapted based on project needs. The new design will allow for the integration of advanced technologies such as carbon capture or turbines when required.”