Seatrium FSRU Conversion Contract with Excelerate Energy

Seatrium Limited has recently secured a significant contract with Excelerate Energy, Inc., a leader in Floating Storage Regasification Unit (FSRU) technology. This deal, which includes an option for a second contract, represents a key collaboration in the FSRU sector.

Details of the Contract

The partnership is marked by Seatrium's first EPCIC (Engineering, Procurement, Construction, Installation, and Commissioning) FSRU conversion project for Excelerate. The contract will enhance the capabilities of Excelerate's LNG portfolio, reflecting Seatrium's strong position in the specialized FSRU market.

Statements from Leadership

David Liner, the Executive Vice President and COO of Excelerate Energy, expressed enthusiasm for the project, stating, “This conversion represents an important investment in the continued growth of Excelerate’s LNG infrastructure portfolio.” He added that the new FSRU will not only expand their fleet but also bolster energy security for customers globally.

Alvin Gan, Seatrium's Executive Vice President for Repairs and Upgrades, emphasized the company's commitment to delivering high standards in this project. He remarked, “We are proud to support Excelerate Energy’s infrastructure growth ambitions through this landmark FSRU conversion project.” Gan highlighted Seatrium's engineering expertise and experience, expressing confidence in their ability to meet the project's demands.

Project Timeline and Scope

According to the EPCIC1 contract, Seatrium will undertake extensive engineering work that covers a wide range of systems necessary for the conversion. This includes:

Regasification facilities
LNG transfer and cargo handling systems
Utility and offloading systems
Electrical and automation systems
Marine modifications and associated infrastructure

Engineering activities are set to kick off in the fourth quarter of 2026, with the goal of completing the conversion by 2028. Once operational, the FSRU will boast an impressive capacity of 170,000 cubic meters for LNG storage, as well as advanced technology for power generation and reliquefaction.

Seatrium's Track Record

With a solid history, Seatrium has successfully completed 22 FSRU, FLNG, and FSU conversion projects since 2007. This latest contract cements its status as a leader in delivering complex floating LNG infrastructure, meeting the increasing global demand for energy solutions that are both secure and environmentally friendly.