Seatrium Limited has been awarded its eighth Floating Storage Regasification Unit (FSRU) conversion contract by Karpowership, marking a significant milestone in their longstanding partnership. The project, scheduled to commence in the third quarter of 2026, involves converting the LNG tanker Karadeniz into Karpowership’s first high-capacity FSRU, capable of delivering a regasification capacity of up to 600 million standard cubic feet per day.
This contract follows a letter of intent signed in August 2025 and underscores Seatrium’s dominance in the FSRU conversion market, having completed over 90% of the world’s FSU/FSRU conversions. Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, stated, “This contract win reinforces our global leadership, having done over 90% of the world’s FSU/FSRU conversions.”
Gokhan Kocak, Chief Technical Operations Officer at Karpowership, expressed confidence in Seatrium’s capabilities, noting, “Seatrium’s proven track record, deep engineering expertise and technical capabilities make them a trusted and invaluable partner in advancing our mission to deliver reliable and sustainable energy solutions worldwide.”
Seatrium’s latest achievement brings its total FSRU and FSU conversion projects to 23, highlighting its engineering expertise and commitment to safety. This partnership with Karpowership not only strengthens Seatrium’s position in the global LNG-to-power market but also aligns with the ongoing transition towards cleaner energy solutions.
