Seatrium Limited has been awarded a contract by Kinetics, a Karpowership initiative, to convert a Liquefied Natural Gas Carrier (LNGC) into a Floating Storage Regasification Unit (FSRU) named LNGT Turkiye. The project, set to begin in the third quarter of 2025, will involve installing a regasification module, a spread-mooring system, and integrating essential systems such as cargo handling, offloading, utility, electrical, and automation.
This marks the seventh FSRU project awarded to Seatrium by Kinetics, highlighting a robust strategic partnership. Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, expressed gratitude for Kinetics’ trust, noting that this collaboration underscores Seatrium’s commitment to excellence and innovation. “This contract is a testament to the successful strategic partnership between our companies,” he stated.
Kinetics, aiming to become a major owner of floating LNG assets globally, has already collaborated with Seatrium on four completed projects, including Karmol LNGT Powership Antarctica. Two additional FSRU conversions are currently underway, with deliveries expected later this year and in early 2026.
Mehmet Katmer, CEO of Kinetics, praised Seatrium’s engineering expertise and technical capabilities, emphasising the importance of their partnership in delivering sustainable energy solutions. “This final contract represents a significant milestone in Kinetics’ ambition to lead the global FSRU market,” he said.
Seatrium, with a history of 21 successful FSRU/FSU conversions since 2007, continues to lead the global market in this specialised sector, reinforcing its position as a pioneer in FSRU conversions.
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