Karpowership International and Galileo Global Technologies Ltd. have signed a memorandum of understanding 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, biomethane, hydrogen, and LNG space by leveraging its experience with floating energy infrastructure.
The partnership includes strategic cooperation in technical and commercial areas, equipment and services supply, joint solution development, and a potential investment in Galileo by Karpowership for developing innovative solutions in the FLNG sector and other areas in transition energies.
“We pride ourselves in providing a fast, flexible, and reliable source of power to millions of customers around the world in four continents. 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,” said Orhan Karadeniz, CEO of Karpowership.
“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, it will reach its highest point with the development of the modular FLNG solutions. Our proven technologies and Karpowership’s wonderful experience and solutions will make this solution a paradigm shift in the global market,” said Osvaldo del Campo, CEO/CTO and founder of Galileo Technologies.
To date, there are only five operational floating liquefied natural gas (FLNG) facilities globally. The company aims to leverage Galileo’s modular liquefaction units, known as ‘Cryobox’, 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, biomethane, hydrogen, and LNG solutions globally.