Karpowership, Petrobras ink LNG pact

Turkey’s Karpowership, part of Karadeniz, and Brazil’s state-owned energy firm Petrobras have signed a memorandum of intent to combine their expertise in the LNG and power sectors.

The agreement includes liquefaction for both floating and onshore natural gas, storage of natural gas and LNG, as well as regasification programs, to guarantee supply and meet the demand of the energy industry across the Americas, according to a statement by Karpowership.

Since 2022, Karpowership has developed what it says is the world’s fastest LNG-to-power project in Brazil where it now operates four floating plants, known as Powerships, with 560 MW of contracted capacity, and the FSRU, Karmol LNGT Powership Asia.

This is in addition to two solar energy generation projects in the state of Rio de Janeiro.

Karpowership also said it expects to make new investments in the coming years in renewable projects as well as green technology initiatives.

Karpowership’s LNG business

Singapore’s Seatrium recently secured a contract from Karpowership to convert three LNG carriers into floating storage and regasification units.

The conversion deal includes an option for a fourth LNG carrier.

Scheduled to start in the second quarter of this year, this contract is a succession of FSRU conversions executed by Seatrium for Karpowership.

These include Karmol LNGT Powership Africa, Karmol LNGT Powership Asia, and Karmol LNGT Powership Europe.

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.

Karpowership aims to expand its activities into the natural gas, biomethane, hydrogen, and LNG space by leveraging its experience with floating energy infrastructure.

The company launched its first LNG-to-power project in Indonesia in 2020.

In September 2023, it signed a memorandum of understanding with Argentina-based Galileo Technologies to develop solutions in the FLNG sector and also other areas.

In December the same year, the firm joined forces with Pertamina International Shipping (PIS), a shipping unit of Indonesia’s state-owned energy firm Pertamina, to develop LNG infrastructure.

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