Singapore’s Seatrium Lands Major FSRU Conversion Deal for Höegh LNG Carrier

Singapore’s Seatrium has secured a high-stakes contract to convert Höegh LNG’s carrier Hoegh Gandria into a floating storage and regasification unit (FSRU), marking another milestone in the race to meet global LNG demand. The deal, awarded by Höegh Evi, underscores Seatrium’s dominance in complex offshore energy projects—and the growing appetite for flexible gas infrastructure.

“This project leverages our expertise in innovation and execution,” said Seatrium’s Alvin Gan, emphasizing the firm’s 20-year partnership with Höegh. “FSRU conversions are a niche where precision meets scale.”

The conversion isn’t just a facelift. Seatrium will integrate a regasification skid and overhaul cargo handling, utility, offloading, electrical, and automation systems—a technical symphony requiring 18 months from engineering kickoff in May 2025. Once operational, the FSRU will anchor at Egypt’s Port of Sumed LNG terminal, supporting EGAS under a long-term charter. The move aligns with Egypt’s push to become a regional gas hub.

Why This Conversion Matters

FSRUs are the Swiss Army knives of energy infrastructure, offering faster deployment than land-based terminals. Höegh Evi’s Øivin Iversen called Seatrium’s track record “unmatched,” citing its ability to balance speed and compliance in a tight market. With LNG demand projected to grow 50% by 2040, such conversions are critical stopgaps for importers lacking pipelines.

For Seatrium, the contract reinforces its post-merger momentum (Sembcorp Marine and Keppel Offshore merged in 2023) and its edge over Chinese and South Korean rivals. The firm has now handled 12 FSRU projects—half of them conversions—with a focus on retrofitting older vessels for second lives. As Gan noted, “Sustainability isn’t just about renewables; it’s optimizing existing assets.”

“Seatrium’s technical depth made them the obvious choice,” added Iversen. “They understand the stakes of downtime in volatile markets.”

With the Sumed terminal poised to boost Egypt’s export capacity, Seatrium’s role as a behind-the-scenes enabler highlights Asia’s quiet dominance in energy infrastructure. The clock starts ticking in May 2025—but the ripple effects will last decades.