US-based Excelerate Energy has awarded Singapore shipbuilder Seatrium an engineering, procurement, construction, installation and commissioning contract to convert an LNG carrier into a floating storage and regasification unit (FSRU), the companies said on Thursday, October 8.
The contract also includes an option for a second conversion. Engineering work is scheduled to start during the fourth quarter of 2026, with delivery estimated in 2028.
Upon completion, the vessel will become the 13th FSRU in Excelerate's fleet. It will have an LNG storage capacity of 170,000 cubic metres, power generation using tri-fuel diesel-electric (TFDE) technology, and reliquefaction equipment.
Seatrium's responsibilities include regasification facilities, LNG transfer and cargo handling systems, support for utility and offloading operations, electrical and automation systems, marine modifications, and associated infrastructure.
The vessel to be converted is Methane Patricia Camila, which Excelerate agreed to acquire in July as the dedicated ship for its first FSRU conversion project. Excelerate President and CEO Steven Kobos put the purchase price at approximately US$79 million.
The company had previously evaluated the FSRU candidate Shenandoah for the project.
"We selected Methane Patricia Camila for this project because its 170,000-cubic-metre storage capacity, TFDE power generation, and installed reliquefaction provide a strong technical foundation for a high-capability FSRU," Kobos said, adding that Shenandoah remained a viable option for future conversions.
Kobos said the change in vessel will push the conversion cost above the figure of around US$200 million the company had earlier communicated.