Qatari LNG shipping giant Nakilat is joining forces with Turkey’s Karpowership, part of Karadeniz, to collaborate in the LNG-to-power market and jointly own and operate floating storage and regasification units.
The two firms signed a memorandum of understanding which outlines an “ambitious plan for the immediate future,” Nakilat said in a statement.
Nakilat and Karpowership hope to set up a new joint venture and deliver the first FSRU by 2023, the statement said.
Nakilat’s chief executive Abdullah Al-Sulaiti welcomed the new agreement with Karpowership.
“This fits very well with Nakilat’s long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector,” he said.
Karpowership’s chief executive Orhan Remzi Karadeniz said this deal would “enhance our ability to offer a one stop shop tailor-made solution to our customers through our integrated business model where we design, develop, engineer and construct our entire assets.”
“FSRUs together with Powerships deliver energy to any country around the world, by utilizing a cleaner and more reliable fuel than many existing options,” he said.
Nakilat took over the management of the 150,900-cbm FSRU Exquisite last year, the first-ever FSRU to join its in-house shipping management.
On the other side, Karpowership launched its first LNG-to-power project in Indonesia last year.
In addition, the firm, along with its joint venture partner MOL, delivered KARMOL’s first FSRU to Senegal. Karmol LNGT Powership Africa arrived in Senegal earlier this year to supply LNG to Karpowership’s 235 MW Karadeniz Powership Ayşegul Sultan located alongside the shores of Dakar.