Seatrium secures FSRU conversion contract from Excelerate Energy
Seatrium Limited has secured a contract from Excelerate Energy for the conversion of an LNG carrier into a Floating Storage and Regasification Unit (FSRU), with an option for a second conversion project.
The agreement covers the full engineering, procurement, construction, installation and commissioning (EPCIC) scope and represents Seatrium’s first FSRU conversion project for Excelerate Energy.
Engineering work is expected to begin in the fourth quarter of 2026, while delivery of the converted vessel is estimated for 2028.
Once completed, the vessel is expected to become the 13th FSRU in Excelerate Energy’s fleet.
Conversion to include LNG regasification and handling systems
Under the contract, Seatrium will undertake the engineering and installation work required to convert the LNG carrier into an operational FSRU.
The project includes regasification facilities, LNG transfer and cargo handling systems, utility and offloading systems, electrical and automation equipment, and associated marine modifications.
The converted vessel is designed to provide 170,000 cubic metres of LNG storage capacity.
It will also incorporate tri-fuel diesel-electric (TFDE) power generation and reliquefaction technology.
According to Seatrium, these systems are intended to support the vessel’s operational performance and expand the range of LNG infrastructure applications it can serve.
The contract also includes an option for a second FSRU conversion, although the announcement does not specify whether or when that option may be exercised.
Excelerate Energy plans to expand FSRU fleet
The conversion forms part of Excelerate Energy’s investment in its floating LNG infrastructure portfolio.
David Liner, Executive Vice President and Chief Operating Officer of Excelerate Energy, said the project would support the company’s plans to expand its LNG infrastructure capabilities.
“Upon completion, the vessel will become the 13th FSRU in our fleet and will expand the reach and capabilities of our LNG infrastructure platform,” Liner said.
Excelerate Energy expects the converted vessel to support its provision of downstream LNG infrastructure services in international markets.
The company has not identified a specific deployment location for the vessel in the announcement.
Seatrium expands LNG conversion project portfolio
The agreement adds another FSRU conversion project to Seatrium’s portfolio of floating LNG infrastructure work.
According to the company, it has completed 22 FSRU, Floating Liquefied Natural Gas (FLNG) and Floating Storage Unit (FSU) conversion projects since 2007.
Alvin Gan, Executive Vice President, Repairs and Upgrades at Seatrium, said the company would apply its engineering and conversion experience to the project.
“We are proud to support Excelerate Energy’s infrastructure growth ambitions through this landmark FSRU conversion project,” Gan said.
The contract establishes a new conversion project relationship between the two companies, with Seatrium responsible for delivering the engineering and technical modifications required for the vessel’s planned FSRU operations.
The project remains scheduled for delivery in 2028, subject to the planned engineering and conversion programme.
