Karpowership International and Galileo Global Technologies Ltd. have signed a memorandum of understanding (MoU) to form a strategic partnership in a range of technical and commercial areas.
Karpowership, fully committed to the energy transition, aims to expand its activities into the natural gas, bio-LNG, hydrogen, and LNG space by leveraging its experience with floating energy infrastructure.
The partnership includes strategic cooperation in technical and commercial areas, supply of equipment and services, joint solution development, and a potential investment in Galileo by Karpowership for the development of innovative solutions in the FLNG sector and other areas in transitional energy.
“With our vast experience in power generation, Karpowership has been a successful player in the mid and downstream aspects of the natural gas business for decades, and we are incredibly excited to be exploring an expansion of our upstream capabilities through this partnership with Galileo,” said Orhan Karadeniz, CEO of Karpowership. “By expanding into floating liquefaction infrastructure with Galileo’s support, we will be further securing our reliability and flexibility of supply while also helping customers develop their indigenous gas resources in a more environmentally conscious and cost competitive way."
"For 35 years, we have been developing alternative visions and solutions for natural gas and alternative fuels, which began with our invention of the gas Virtual Pipeline® back in the 90s and later evolved into our Natural Gas 3.0® concept, which will reach its highest point with the development of the modular FLNG solutions. Our technologies and Karpowership’s experience and solutions will make this solution a paradigm shift in the global market," commented Osvaldo del Campo, CEO/CTO and founder of Galileo Technologies.
To date, there are only five operational FLNG facilities globally. The company aims to leverage Galileo’s modular liquefaction units, known as ‘Cryoboxes’, to become a one-stop solution provider, from upstream production through transportation, storage, consumption, and power generation.
Both parties will share technical and commercial know-how to develop and implement their innovative natural gas, bio-LNG, hydrogen, and LNG solutions globally.
Read the article online at: https://www.lngindustry.com/floating-lng/07092023/karpowership-and-galileo-partner-up/
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