Qatari shipping and maritime company Nakilat, a key player in the Gulf country’s liquefied natural gas (LNG) transportation network, and Turkey's Karpowership, one of the world's largest operators of floating power plants, have signed a memorandum of understanding (MoU) to collaborate in the LNG-to-power market and jointly own and operate floating storage regasification units (FSRUs).

"This fits very well with Nakilat’s long-term growth plan to expand and diversify our shipping portfolio and strengthens our position as a global leader in the energy transportation sector," Nakilat’s chief executive Abdullah al-Sulaiti was cited as saying by the Gulf Times.

According to the MoU, which outlines a comprehensive plan for the near future, Nakilat and Karpowership to set up a new joint venture and deliver the first FSRU by 2023.

Orhan Remzi Karadeniz, chief executive at the Turkish company, also said that they "are very excited to be working with Nakilat as this will enhance our ability to offer a one-stop shop tailor-made solution to our customers through our integrated business model where we design, develop, engineer and construct our entire assets."

The FSRUs, together with powerships, deliver energy by utilizing a cleaner and more reliable fuel than many existing options, to any country around the world if needed. Floating power plants, which can meet the energy needs of countries in a short time with turnkey installation, can be easily connected to electricity networks.

Karpowership – part of the Karadeniz Energy Group – is the owner, operator and builder of the first powership fleet in the world and has several floating power plants in different countries, including Indonesia, Lebanon, Mozambique, Ghana, Gambia, Senegal and Cuba.