FLOATING POWER: Seatrium, Karpowership Ink Pact for FSRU Conversions

August 14, 2025

From left to right – Mr. Chris Ong, Chief Executive Officer, Seatrium, Mr. Gokhan Kocak, Chief Technical Operations Officer, Karpowership, Mr. Alvin Gan, Executive Vice President, Repairs & Upgrades, Seatrium and Mr. Orhan Remzi Karadeniz, Chief Executive Officer, Karpowership Photo Credit: Seatrium

Seatrium Limited signed a Letter of Intent (LOI) with Karpowership, a global energy company and the owner, operator, and builder of the world’s largest Powership (floating power plant) fleet.

Under the LOI, Seatrium will carry out the integration of four New Generation Powerships, with an option for two additional units. Karpowership will deliver the hulls and key equipment for the four Powerships to Seatrium Singapore, where integration works will begin in the first quarter of 2027. Seatrium’s scope of work includes mechanical and electrical, equipment integration, mechanical completion, and pre-commissioning.

The agreement also includes the conversion, life extension and repairs of three LNG carriers into Floating Storage and Regasification Units (FSRUs). This involves the installation of regasification modules, spread-mooring systems, and the integration of critical supporting systems such as cargo handling, offloading, utility, electrical and automation systems.