Türkiye’s Karpowership puts Seatrium at the wheel of FSRU conversion job

March 9, 2026, by Melisa Cavcic

Singapore’s Seatrium has been given the lead role in the conversion of a new floating storage regasification unit (FSRU), thanks to a deal with Türkiye’s floating power plant company Karpowership.

Following the delivery of the LNGT Powership Oceania to Karpowership, Seatrium won the eighth FSRU conversion assignment with Türkiye’s floating power plant player, which is interpreted to enable the Singapore-based firm to secure global LNG-to-power leadership, having executed more than 90% of the world’s FSU/FSRU conversions.

Alvin Gan, Executive Vice President, Repairs and Upgrades at Seatrium, commented: “This contract win reinforces our global leadership, having done over 90% of the world’s FSU/FSRU conversions. It also reflects the continued trust from Karpowership and longstanding strategic partnership of both companies.

“To date, we have delivered six FSRU conversions for Karpowership, and we are excited to collaborate closely with Karpowership to advance next-generation Powerships and offshore solutions, amidst unsatiable demand for energy and ongoing transition towards cleaner energy globally.”

The new contract award is perceived to signal a progression of an earlier letter of intent (LOI) signed between the two companies in August 2025. The LOI scope includes the conversion, life extension and repairs of three LNG carriers (LNGC) into FSRUs, as well as the integration of four new-generation Powerships with an option for two additional units.

Seatrium-Karpowership partnership giving LNG vessel trio new lease on life as FSRUs

Vessels

Slated to begin in the third quarter of 2026, the LNGC-to-FSRU conversion project, LNGT Karadeniz, is said to signify Karpowership’s first high-capacity FSRU, engineered to deliver a regasification capacity of up to 600 million standard cubic feet per day (mmscfd).

The conversion scope entails the installation of a regasification module, a spread-mooring system, and the integration of critical supporting systems such as cargo handling, LNG offloading, utilities, electrical distribution, and advanced automation and control systems – collectively ensuring safe, reliable, and efficient gas supply operations.

While shedding light on the completion and delivery the FSRU LNGT Powership Oceania, Seatrium elaborated that the project was executed in accordance with the agreed schedule and technical specifications.

The latest completion brings the firm’s FSRU conversion track record to 23 FSRU and FSU conversion projects delivered, seen as underscoring its deep engineering expertise, high-quality execution, and unwavering commitment to safety.

Gokhan Kocak, Chief Technical Operations Officer at Karpowership, noted: “We are pleased to deepen our strong partnership with Seatrium as we expand our FSRU fleet to meet the highest industry standards. Seatrium’s proven track record, deep engineering expertise and technical capabilities make them a trusted and invaluable partner in advancing our mission to deliver reliable and sustainable energy solutions worldwide.

“This latest contract underscores the confidence we place in Seatrium and marks an important milestone in Karpowership’s ambition to lead the global FSRU market in the coming years.”