Excelerate Energy, an American company active in liquefied natural gas and energy infrastructure, has signed a contract with Seatrium, a marine engineering company based in Singapore, for the conversion of a tanker into a Floating Storage and Regasification Unit (FSRU). This contract is considered the twelfth project in the company's global fleet and includes an option for the conversion of another tanker.
Contract Details
The EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) contract allows Seatrium to provide regasification facilities, LNG transfer and transportation systems, electrical and automation systems, and marine modifications to convert the tanker into a fully operational FSRU. Engineering activities under this contract are expected to begin in the fourth quarter of 2026, with final delivery anticipated in 2028.
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Project Implications
David Liner, Executive Vice President and Chief Operating Officer of Excelerate Energy, stated regarding this project: "This conversion is an important investment in the continued growth of Excelerate's LNG infrastructure and enables us to provide reliable LNG infrastructure to customers around the world." Utilizing advanced technologies, this FSRU will have a storage capacity of 170,000 cubic meters of LNG and will also include TFDE power generation and regasification technology.
Alvin Gan, Executive Vice President of Repairs and Upgrades at Seatrium, also commented: "We are proud to assist in the growth of Excelerate Energy's infrastructure, and by leveraging our engineering expertise, we will transform this tanker into a key LNG infrastructure."
Seatrium has a strong track record in FSRU and FLNG conversion projects, having successfully completed 22 projects in this area since 2007. With this project, Excelerate Energy aims to enhance energy security in target markets and expand its range of services.
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