This story requires a subscription
This includes a single user license.
Kinetics announced in a statement that a steel-cutting ceremony was held at Seatrium’s Tuas Boulevard Yard in Singapore to mark the start of construction of LNGT Karadeniz.
In March this year, Seatrium announced the contract award for this vessel, marking Seatrium’s eighth FSRU conversion project for Karpowership.
The LNGC-to-FSRU conversion project signifies Karpowership’s first high-capacity FSRU, engineered to deliver a regasification capacity of up to 600 million standard cubic feet per day (mmscfd).
Designed with low, medium, and high-pressure sendout systems, LNGT Karadeniz will enable Kinetics to serve a broader range of LNG import projects and downstream gas networks, the company noted.
“The project represents a significant expansion of the company’s capabilities, allowing Kinetics to deliver larger, more versatile LNG import solutions while strengthening its ability to provide fast, flexible, and reliable energy infrastructure to countries seeking to enhance energy security and diversify their energy mix,” it said.
As the first in a planned series of next-generation FSRUs, LNGT Karadeniz will further strengthen Kinetics’ floating LNG portfolio.
The vessel will incorporate a high-capacity regasification module, spread mooring system, LNG transfer and cargo handling systems, utilities, electrical distribution, and advanced automation and control technologies, Kinetics said.
FSRU fleet
Kinetics LNG Holdings recently said in its quarterly report that the Karadeniz Group’s dedicated asset-owning entity for floating LNG infrastructure has 11 vessels in its fleet.
These include 9 vessels on the water and an additional 2 LNG carriers being converted into FSRUs at Singapore’s Seatrium yard.
KARMOL, a 50/50 joint venture between Kinetics LNG and Japan’s MOL, owns four of the on-water FSRUs.
In addition, Kinetics LNG noted in the quarterly report that LNGT Oceania had been successfully delivered and accepted by the charterer, One World Fuel Services DMCC.
The delivery took place on March 11, 2026, at which point the vessel entered into the charter period.
Following the delivery of LNGT Oceania, the group had six vessels in operation in the first quarter of 2026, excluding vessels under KARMOL.
The company also said that LNGT Turkiye has entered the shipyard in the third quarter of 2025 and the conversion work “continues to progress in line with the schedule.”
The delivery of LNGT Turkiye is expected in the third quarter of 2026.
