Turkey’s Karpowership, part of Karadeniz, is joining forces with Argentina-based Galileo Technologies to develop solutions in the FLNG sector and other areas.
In that regard, the two firms have signed a memorandum of understanding on September 9 in Singapore to form a strategic partnership in a range of technical and commercial areas, according to a statement by Galileo.
Karpowership aims to expand its activities into the natural gas, biomethane, hydrogen, and LNG space by leveraging its experience with floating energy infrastructure, the statement said.
The partnership includes strategic cooperation in technical and commercial areas, equipment and services supply, joint solution development, and also a potential investment in Galileo by Karpowership for developing “innovative” solutions in the FLNG sector and other areas in transition energies, it said.
Modular liquefaction units
Karpowership launched its first LNG-to-power project in Indonesia in 2020. The firm owns floating storage and regasification units (FSRUs) as part of its joint venture with Japan’s MOL, KARMOL.
Also, the Turkish firm today owns and operates a fleet of 36 powerships with 6,000 MW installed capacity, according to its website.
“By expanding into floating liquefaction infrastructure with Galileo’s support, we will be further securing our reliability and flexibility of supply while also helping customers develop their indigenous gas resources in a more environmentally conscious and cost competitive way,” Orhan Karadeniz, CEO of Karpowership, said in the statement.
As per Galileo, the firm is developing solutions for natural gas and alternative fuels, including small stations for fueling of LNG and CNG vehicles.
To date, there are only five operational floating LNG producers globally, the statement noted.
Karpowership aims to leverage Galileo’s modular liquefaction units, known as ‘Cryobox’, to become a “one-stop solution provider”, from upstream production through transportation, storage, consumption, and also power generation, the statement said.
Both firms will share technical and commercial know-how to develop and implement their natural gas, biomethane, hydrogen, and LNG solutions globally, they added.
