Seatrium Ltd will convert LNGT Akdeniz into a floating storage regasification unit (FSRU) with capacity of up to 600 million ft³/d for Karpowership, marking the ninth such project between the two companies and the second under their previously announced Letter of Intent. Conversion work starts in the first quarter of 2027.

On delivery, the vessel will join Kinetics, Karpowership's energy-transition arm, expanding that unit's LNG fleet to twelve vessels.

What does the contract cover?

Seatrium's scope covers engineering, conversion, integration, installation and commissioning of regasification equipment and associated systems on a converted LNG carrier. The award follows two recent milestones: the successful naming and sail-away of LNGT Türkiye, and the ongoing conversion of LNGT Karadeniz — the partnership's eighth FSRU.

LNGT Akdeniz is the second unit in Karpowership's next-generation FSRU series. Beyond three additional FSRU conversions, the existing LoI also reserved the potential integration of up to six new-generation Powerships — Karpowership's trademark barge-mounted power plants — into a single floating energy offering.

How deep does the partnership run?

Seatrium has handed over seven FSRUs to Karpowership since 2018. LNGT Karadeniz, the eighth, remains in build. Across its portfolio, the shipbuilder has completed 22 FSRU and FSU conversion projects since 2007, a track record that anchors its position in floating LNG infrastructure.

Karpowership operates the world's only Powership fleet, with 45 vessels in service, and runs the Kinetics LNG-to-Power platform that absorbs the FSRU capacity. The two fleets together let the company deliver regasified LNG and generated power from a single offshore package.

What are the principals saying?

Karpowership Chief Technical Operations Officer Gokhan Kocak said: "The successful delivery of LNGT Türkiye and the award of LNGT Akdeniz are important milestones in the continued growth of Karpowership's LNG-to-Power business. Together, these FSRUs strengthen our ability to provide reliable and flexible energy solutions to markets where energy security is critical. Seatrium has been a key enabler of this journey, consistently delivering high-quality FSRU conversions that support our operational requirements and long-term growth plans."

Seatrium Executive Vice President, Repairs and Upgrades, Alvin Gan, said: "What began as a bold vision in 2018 has evolved into a strong and enduring partnership built on trust, shared success and a commitment to excellence. The award of LNGT Akdeniz, our ninth FSRU with Karpowership and the second unit in Karpowership's next-generation FSRU series, is a testament to the strength of this collaboration and further reinforces Seatrium's position as a global leader in floating LNG infrastructure solutions. Featuring a regasification capacity of up to 600 million ft³/day, LNGT Akdeniz will play a vital role in supporting reliable and flexible energy supply."

What to watch

The Q1 2027 conversion start sets the next delivery clock for Karpowership's Kinetics unit. Watch the next steps under the existing LoI — the remaining three FSRU conversions and the first Powership integration scope — which would couple floating storage and regasification with barge-mounted generation in a single tender. The deployment market, which the parties have yet to disclose, is the next data point traders will want to see.