Seatrium and Karpowership Initiated Ninth FSRU Conversion
The partners have launched the LNGT Akdeniz project to boost international LNG import and regasification capabilities.
Updated on Oct. 5, 2026 in Oil and Gas
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Seatrium and Karpowership have entered into their ninth collaborative project to convert an LNG carrier into a Floating Storage Regasification Unit (FSRU) named the LNGT Akdeniz. This vessel will feature a regasification capacity of 600 million standard cubic feet per day.
Why it matters
The partnership aims to strengthen global energy security by enhancing LNG import infrastructure in target markets. This project expands Karpowership's total LNG fleet to 12 vessels as demand for flexible energy solutions grows.
The LNGT Akdeniz project represents the ninth FSRU conversion between the two firms, which have delivered seven such units since 2018. Seatrium has completed 22 total FSRU and FSU conversion projects since 2007.
The players
Seatrium
This Singapore-based engineering company specializes in offshore and marine solutions and employs 24,000 people.
Karpowership
This energy company operates a fleet of 45 Powerships and brings 30 years of experience to the partnership.
The details
Seatrium is managing the engineering, integration, and commissioning of the regasification equipment to transform the existing LNG carrier. This initiative follows the ongoing conversion of the LNGT Karadeniz, which serves as the eighth project in their joint series.
Timeline
2007: Seatrium began tracking its FSRU and FSU conversion projects.
2018: The partnership between Seatrium and Karpowership began.
October 5, 2026: Seatrium and Karpowership announced the LNGT Akdeniz project.
Q1 2027: Construction work on LNGT Akdeniz is scheduled to begin.
Market Landscape
This project aligns with the global shift toward mobile LNG infrastructure as nations seek faster alternatives to traditional onshore terminals. The partnership positions Seatrium and Karpowership as dominant players in the conversion market against traditional shipbuilding competitors.
The expansion of floating regasification capacity helps secure more stable energy supply chains for regions reliant on imported LNG. Consumers in these target markets may benefit from reduced volatility in energy availability and pricing once these vessels are operational.
The takeaway
The continuous conversion of LNG carriers into regasification units demonstrates how specialized engineering can extend the operational life of existing maritime assets. This strategy offers an efficient way for companies to rapidly deploy utility-scale power solutions without waiting for land-based construction.
What happens next
Construction on the LNGT Akdeniz is scheduled to commence in the first quarter of 2027.
Further reading
For more on the changing landscape of global energy infrastructure, visit the Oil and Gas section.
Source note: This article includes information reported by The Queenslander.
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