Seatrium (SGX:5E2) was awarded a floating storage regasification unit conversion contract from Kinetics, an energy transition initiative by floating power company, Karpowership, according to a company release on Thursday.
The project includes three LNG Carrier conversions with an option for a fourth project.
The project is expected to start during the third quarter of the year.
Shares of the company were up nearly 1% in recent trading.
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