LNG

Near-term availability of floating LNG terminals is tightening fast, with Fernley expecting a fresh wave of vessel conversions as floating storage and regas units (FSRUs) have achieved their highest-ever share of global LNG imports.

Kinetics, a Karpowership initiative, has begun construction of its first high-capacity floating storage and regasification unit, LNGT Karadeniz, at Seatrium’s Tuas Boulevard yard in Singapore. The vessel will provide up to 600 million standard cubic feet per day of regasification capacity.

Poland’s state-controlled TSO Gaz-System is considering adding a second floating storage and regasification unit (FSRU) to its planned LNG import terminal in Gdansk. The project is slated to start with 6.1 bcm per year of regas capacity and could be expanded by another 4.5 bcm to 10.6 bcm per year when it comes online, currently targeted for 2028.

Deutsche Energy Terminal (DET) is preparing to commission its floating storage and regasification unit (FSRU) in Stade in September to facilitate LNG imports for the peak winter season.

Turkish floating power producer Karpowership will deploy a 250-MW gas-fired powership alongside a floating storage and regasification unit (FSRU) in Mexico’s Yucatán Peninsula under a three-year agreement with grid operator CENACE. Both vessels are expected to arrive in the coming week, due for immediate commissioning.

Energía Argentina has awarded a spot LNG cargo to Spain’s Naturgy at tender, with the shipment due to arrive at the Escobar floating storage and regasification unit (FSRU) in the second week of May.

Australian developer Viva Energy has received federal environmental approval for its proposed floating LNG import terminal at Geelong, deemed vital to offset declining domestic gas production in Victoria.

Deutsche ReGas has been granted permanent to operate its Deutsche Ostsee LNG terminal at Mukran port on Rügen in the Baltic Sea, allowing the use of onboard gas generators on two floating storage and regasification units (FSRUs).

Singapore’s Seatrium Ltd has secured a contract from Turkey’s Karpowership to convert eight LNG carriers into Floating Storage and Regasification Units (FSRUs), with work set to begin in the third quarter of 2026.

OnCorp is accelerating pre-commissioning works at the Suape floating storage and regasification unit (FSRU) in Pernambuco, Brazil, targeting an operational startup by the end of March or early April 2026. The timeline hinges, however, on finalizing a 15-year gas supply agreement with the adjacent Termopernambuco power plant.