Seatrium (SGX:5E2) secured a floating storage regasification unit (FSRU) conversion contract from Norway-based Hoegh, according to a Tuesday filing with the Singapore Exchange.
The contract includes the conversion and longevity of an LNG carrier, Hoegh Gandria to an FSRU, with engineering works for the project expected to commence later this month.
The project is slated for completion within 18 months.
Shares of the company were up over 2% in recent trading.