Nakilat, Karpowership ink FSRU pact

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.

Most Popular

Venture Global gets FERC OK to boost Calcasieu Pass LNG capacity

US LNG exporter Venture Global LNG has received approval from the US FERC to increase the peak liquefaction capacity of its Calcasieu Pass LNG terminal in Louisiana.

Deutsche ReGas, German government reach deal on FSRU charter termination

LNG terminal operator Deutsche ReGas and Germany's Ministry for Economic Affairs and Energy have reached a mutual agreement on resolving the sub-charter agreement for the 174,000-cubic-meter FSRU Energos Power.

Worley updates on CP2 LNG work

Australian engineering firm Worley has provided an update on its reimbursable EPC contract with US LNG exporter Venture Global LNG for the latter's CP2 LNG terminal in Louisiana.

More News Like This

KARMOL’s FSRU named in Singapore

KARMOL, a joint venture of Turkiye's Karpowership and Japan's MOL, has named its latest floating storage and regasification unit at Seatrium's yard in Singapore.

HD Hyundai Heavy starts building Nakilat’s LNG carrier

South Korean shipbuilder HD Hyundai Heavy Industries has officially started building Nakilat’s first of 17 LNG carriers as part of an order placed last year.

Nakilat’s Q1 profit up 3.2 percent

Qatari LNG shipping giant Nakilat said its net profit increased 3.2 percent in the first quarter compared to last year.

VesselsValue: South Korea’s LNG carrier orderbook worth $71.3 billion

South Korean yards have 276 LNG carriers worth $71.3 billion on order, according to the newest data by Veson Nautical’s VesselsValue.