Seatrium has secured a floating storage regasification unit (FSRU) conversion contract from Norway’s Höegh Evi, a global leader in floating energy infrastructure. The company is said to have one of the world’s largest fleets of FSRUs for importing natural gas.
The contract will cover the conversion and longevity of liquefied natural gas (LNG) carrier, Hoegh Gandria, to a FSRU. This includes the installation of a regasification skid, as well as integration of key supporting systems such as cargo handling, utility, offloading, electrical, and automation systems.
The group will begin engineering works in May, with the project expected to take about 18 months to complete.
Upon its completion, the FSRU LNG will be deployed to the LNG terminal in Port of Sumed, Egypt under a charter agreement between Hoegh Evi and Egypt Natural Gas Holding Company (EGAS).
Shares in Seatrium closed 2 cents higher or 1% up at $2.03 on May 9.
