Singapore’s Seatrium has secured a contract from Turkey’s Karpowership to convert three LNG carriers into floating storage and regasification units.
Seatrium said in a statement on Wednesday that the conversion deal includes an option for a fourth LNG carrier.
The group, previously known as Sembcorp Marine and renamed as Seatrium following its merger with Keppel Offshore & Marine, revealed a series of major contracts with an aggregate value of S$350 million ($259 million), to be completed by end 2025.
Besides the Karpowership deal, Seatrium won a series of LNGCs dry docking under the favored customer contract with South Korea’s Hyundai LNG Shipping, life-extension and remediation work for floating production systems, cruise ships’ repairs and refurbishments, offshore and naval work.
FSRU conversion work to start in Q2
Seatrium did not reveal the names or other details of the Karpowership vessels.
Brokers said last year that Karpowership, part of Karadeniz, bought four steam NWS LNG carriers.
The vessels in question have a capacity of some 127,000 cbm while they were built between 1989 and 1994.
They are Northwest Sanderling, Northwest Sandpiper, Northwest Snipe, and Northwest Stormpetrel.
Seatrium said that the conversion work involves installing a regasification skid, as well as other supporting systems such as cargo, utility, spread-mooring, offloading, electrical, and automation systems.
Scheduled to start in the second quarter of this year, this “milestone contracts exemplifies a succession of FSRU conversions executed by Seatrium for Karpowership,” it said.
Also, it builds upon a track record of successful deliveries, including Karmol LNGT Powership Africa, Karmol LNGT Powership Asia, and Karmol LNGT Powership Europe, the firm said.
KARMOL is a joint venture of Karpowership and Japan’s MOL.
The company’s first FSRU Karmol LNGT Powership Africa departed Singapore in March 2021.