Nakilat and Karpowership forge FSRU partnership

Qatari shipowner Nakilat and Karadeniz subsidiary Karpowership have joined forces to collaborate in the LNG-to-power market and own and operate floating storage and regasification units (FSRUs).

Nakilat said that a memorandum of understanding signed between the two companies has outlined an ambitious plan for the immediate future, which involves setting up a new joint venture and delivering the first FSRU by 2023.

“This fits very well with Nakilat’s long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector,” said Nakilat’s CEO, Abdullah Al-Sulaiti.

“It will enhance our ability to offer a one-stop-shop tailor-made solution to our customers through our integrated business model where we design, develop, engineer and construct our entire assets. FSRUs, together with power ships deliver energy to any country around the world by utilising a cleaner and more reliable fuel than many existing options,” added Orhan Remzi Karadeniz CEO of Karpowership.

Nakilat transitioned its first FSRU to in-house management in December last year. It took over the 2009-built Exquisite from Excelerate Technical Management (ETM). The FSRU is jointly owned by Nakilat and Excelerate Energy through a joint venture established in 2018.