Global offshore solution provider Seatrium has recently secured a contract for the conversion of a floating storage regasification unit (FSRU) by Kinetics, an energy transition initiative under Karpowership. This collaboration marks the fourth project between the two companies, with the option being confirmed in April 2024.
Mehmet Katmer, CEO of Kinetics, expressed his confidence in Seatrium’s capabilities, stating, “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. This final contract represents a significant milestone in Kinetics’ ambition to lead the global FSRU market in the coming years.”
The project is scheduled to commence in the third quarter of 2025 and will involve the conversion of an LNG carrier into a floating storage and regasification unit named LNGT Turkiye. The conversion process will include the installation of a regasification module and a spread-mooring system, along with systems integration for offloading, cargo handling, utility, electrical, and automation systems.
Kinetics specializes in the development, delivery, and leasing of floating LNG assets and renewable energy platforms, catering to the needs of utilities and independent power producers. Seatrium, on the other hand, is a Singapore-based company that provides engineering solutions to the global offshore, marine, and energy industries.
Alvin Gan, the Executive Vice President of Seatrium, expressed gratitude for the trust placed in the company by Kinetics, highlighting the successful partnership between the two companies on previous projects. He mentioned that Seatrium is currently working on two more FSRU conversion projects for Kinetics, further solidifying their position as a pioneer and market leader in the specialized FSRU conversion sector.
In early 2025, Seatrium also won a significant contract from Höegh Evi, Norway, for the conversion of an LNG carrier into an FSRU, showcasing their expertise and reputation in the industry.
“Kinetics awards seventh FSRU project to Seatrium” was originally reported by Offshore Technology, a GlobalData-owned brand.
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