Karpowership's Kinetics acquires vessel for new FSRU

Kinetics adds a new hull to its fleet

Kinetics has acquired the Arctic Voyager, an LNG carrier it will convert into a floating storage and regasification unit (FSRU) named LNGT Akdeniz. The company announced the decision on 30 September as a further expansion of its LNG infrastructure fleet.

Kinetics is the Karpowership initiative that develops, builds, owns and operates floating LNG infrastructure. It designs its platforms for utilities, governments and industrial customers, and its portfolio also includes floating storage units and battery energy storage systems, alongside a growing renewable portfolio.

Kinetics turns a carrier into a gas terminal

An FSRU is a converted LNG carrier. Instead of carrying liquefied natural gas from port to port, it keeps the cargo on board, returns it to a gaseous state and sends it to the power plants or the network it serves.

Once converted, LNGT Akdeniz will store approximately 143,000 cubic metres of LNG and offer a regasification capacity of 650 million standard cubic feet per day. Kinetics describes it as a multi-spec FSRU that brings utility-scale regasification capacity to its fleet, with the flexibility to serve a wide range of project configurations.

Kinetics answers demand for fast, flexible import capacity

"The global LNG market continues to show strong demand for flexible, rapidly deployable regasification infrastructure," said Mehmet Katmer, General Manager of Kinetics.

He links that demand to three trends: a growing focus on security of energy supply, the need for flexible import capacity, and the ability to bring gas infrastructure online within shorter development timelines. "This latest investment further strengthens Kinetics' ability to serve a broad range of market requirements through a diversified fleet of high-specification, utility-scale FSRU assets," he said.

Karpowership extends its integrated offering

"Kinetics is a natural extension of Karpowership's integrated energy offering. By growing its fleet of floating LNG infrastructure, Kinetics is strengthening the group's ability to help clients secure reliable energy supply and diversify their energy mix as they move towards a lower-carbon future," said Zeynep Harezi Yılmaz, Chief Commercial Officer of Karpowership.

Karpowership owns and operates 45 Powerships with more than 8,500 MW of capacity, and manages the full LNG value chain with 11 LNG vessels, from procurement and storage to regasification and offshore transfer. On 24 September, Karpowership and Seatrium marked the sailaway of LNGT Türkiye, the seventh and final FSRU of a conversion programme that began in 2018.

An asset with a 20-year horizon

Delivery of the converted vessel is expected in the third quarter of 2028. What LNGT Akdeniz brings to the group is not only one more FSRU: it is utility-scale import capacity with an expected economic life of 20 years.