Nakilat and Karpowership have signed a memorandum of understanding (MoU) to collaborate in the liquefied natural gas (LNG)-to-power market and jointly own and operate floating storage regasification units (FSRUs).
"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 chief executive Abdullah al-Sulaiti.
The MoU outlines an ambitious plan for the immediate future. Nakilat and Karpowership hope to set up a new joint venture and deliver the first FSRU by 2023.
“We are very excited to be working with Nakilat as this 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, " said Karpowership’s chief executive Orhan Remzi Karadeniz.
The FSRUs together with Powerships deliver energy to any country around the world, by utilizing a cleaner and more reliable fuel than many existing options, according to him.
The Istanbul-based Karpowership is the builder, operator and owner of a fleet of powerships.