Seatrium Wins Eighth FSRU Conversion from Karpowership, Extends LNG-to-Power Lead

Seatrium Limited ( (SG:5E2) ) has issued an update.

Seatrium has secured a new contract from long-time client Karpowership to convert the LNG carrier LNGT Karadeniz into a high-capacity floating storage regasification unit, marking its eighth FSRU conversion for the Turkish power ship operator. The project, set to start in the third quarter of 2026, will equip the vessel with a regasification capacity of up to 600 million standard cubic feet per day and integrate advanced mooring, cargo handling, LNG offloading and automation systems to support safe and efficient gas-to-power operations.

The award advances a wider framework between the two companies covering multiple LNG carrier conversions and next-generation Powership integrations, reinforcing Seatrium’s global dominance in FSU/FSRU conversions and deepening its strategic role in LNG-to-power infrastructure. The group also announced the on-schedule delivery of the FSRU LNGT Powership Oceania, bringing its total to 23 FSRU and FSU conversion projects and underscoring its execution capabilities as demand for flexible, cleaner energy solutions rises worldwide.

The most recent analyst rating on (SG:5E2) stock is a Buy with a S$3.00 price target. To see the full list of analyst forecasts on Seatrium Limited stock, see the SG:5E2 Stock Forecast page.

More about Seatrium Limited

Seatrium Limited is a Singapore-based engineering group focused on offshore and marine solutions, including complex vessel conversions and upgrades for the global energy sector. The company has established a leading position in floating storage and regasification unit (FSRU) and floating storage unit (FSU) conversions, having executed more than 90% of such projects worldwide for customers like Karpowership.

YTD Price Performance: 7.87%

Average Trading Volume: 12,956,066

Technical Sentiment Signal: Buy

Current Market Cap: S$7.89B

See more data about 5E2 stock on TipRanks’ Stock Analysis page.