Seatrium Signs FSRU Conversion Deal with Excelerate Energy

Seatrium has secured an engineering, procurement, construction, installation and commissioning (EPCIC) contract from Excelerate Energy to convert an LNG carrier into a floating storage and regasification unit (FSRU), with an option for a second conversion.

The project marks Seatrium's first EPCIC FSRU conversion contract for Excelerate Energy, with engineering work expected to begin in the fourth quarter of 2026 and delivery targeted for 2028.

The contract covers the installation and integration of regasification facilities, LNG transfer and cargo handling systems, utility and offloading systems, electrical and automation equipment, marine modifications and associated infrastructure.

Once converted, the vessel will have an LNG storage capacity of 170,000 cubic meters and feature tri-fuel diesel-electric (TFDE) power generation and reliquefaction technology.

The vessel will become the 13th FSRU in Excelerate Energy's fleet upon completion.

“This conversion represents an important investment in the continued growth of Excelerate’s LNG infrastructure portfolio and our ability to deliver reliable downstream LNG infrastructure to customers worldwide. Upon completion, the vessel will become the 13th FSRU in our fleet and will expand the reach and capabilities of our LNG infrastructure platform,” said David Liner, Executive Vice President and Chief Operating Officer of Excelerate Energy.

Seatrium has completed 22 FSRU, floating LNG (FLNG) and floating storage unit (FSU) conversion projects since 2007.

Financial terms of the contract were not disclosed.