Seatrium Secures Ninth FSRU Conversion Deal with Karpowership

Seatrium has secured its ninth contract with Karpowership, this time for the conversion of the LNG carrier LNGT Akdeniz into a floating storage and regasification unit (FSRU). The contract, signed on October 5, 2026, marks another milestone in the partnership between the two companies, which has already delivered seven FSRUs since 2018.

The conversion work on LNGT Akdeniz is scheduled to begin in the first quarter of 2027. The vessel, designed to regasify up to 600 million standard cubic feet per day, will join Kinetics, Karpowership’s LNG initiative. Upon completion, Kinetics’ planned fleet will consist of 12 vessels, including FSRUs and LNG carriers.

Seatrium will handle the engineering, conversion, and integration of regasification systems, followed by commissioning. The project is the second under an August 2025 letter of intent, which includes plans for three FSRU conversions and the potential integration of up to six new-generation floating power plants. Work on the eighth project, LNGT Karadeniz, is still ongoing.

The LNGT Türkiye, delivered in September 2026, was the final vessel in the initial conversion program. Kinetics awarded the conversion contract for LNGT Akdeniz in July 2025, highlighting the ongoing collaboration between Seatrium and Karpowership.