Karpowership and Petrobras forge strategic alliance to enhance integrated natural gas projects in the Americas

ISTANBUL, May 7, 2024 /PRNewswire/ -- Karpowership and Petrobras have signed a Memorandum of Intent (MoI) to combine their respective expertise in the natural gas and power sectors. This includes liquefaction for both floating and onshore natural gas, storage of natural gas and LNG, as well as regasification programs, to guarantee supply and meet the demand of the energy industry across the Americas.

Investments in the country are part of Karpowership's global strategy, which seeks not only to support energy security, but also the socioeconomic development of its strategic partners. Since 2022, the company has developed the world's fastest LNG-to-power project in Brazil where it now operates four floating plants, known as Powerships, with 560 MW of contracted capacity. This is in addition to two solar energy generation projects in the State of Rio de Janeiro.

"This agreement with Petrobras reinforces our long-term commitment to Brazil, our investment hub in South America. It will be an opportunity for us to work together on new business strategies with one of the world's largest energy companies, and potentially expand our offerings to Brazilian society and the Americas", said Beyza Özdemir, Regional Director of Commercial Operations for South America at Karpowership.

The company also expects to make new investments in the coming years in renewable projects as well as green technology initiatives. Furthermore, Özdemir indicates that the company is committed to creating new employment opportunities in the Brazilian maritime, gas and power industries in synergy with international ESG best practices.

About Karpowership

With over 25 years of experience in the floating power plant industry, Karpowership has established itself as a leading provider of flexible, reliable, and cleaner energy solutions worldwide. With a global installed capacity up to 7,000 MW, spanning the company's signature Powerships and onshore plants, alongside a fleet of floating LNG infrastructure including LNG carriers and FSRUs, Karpowership operates on 4 continents. Offering swift and efficient power generation solutions, Karpowership's multi-fuel enabled vessels can be rapidly deployed to meet diverse grid demands within just 30 days.

In Brazil, the company's two solar energy projects, along with its 560MW LNG-to-Power Project utilizing Powerships and FSRUs located in Rio de Janeiro have generated more than 1,500 direct and indirect jobs. Karpowership Brasil also upholds the best global ESG practices in the country by offering technical qualification and skills transfer programs in partnership with the Navy, engaging in reforestation and volunteering initiatives and donating educational and technological items to local communities.

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SOURCE Karpowership