{
  "id": 27131,
  "title": "Seatrium eyes growing LNG demand as Iran war reshapes global energy flows",
  "url": "https://urgent.news/2026/07/31/seatrium-eyes-growing-lng-demand-as-iran-war-reshapes-global-energy",
  "topic": "world",
  "section": "World",
  "published": "2026-07-31T13:10:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/companies-markets/seatrium-eyes-growing-lng-demand-as-iran-war-reshapes-global-energy-flows"
  },
  "original_language": "en",
  "account": "Offshore engineering firm Seatrium is witnessing an increase in demand for liquefied natural gas (LNG) infrastructure, as the US-Iran conflict disrupts global energy flows, according to CEO Chris Ong. The crisis has forced countries to seek out alternative energy sources, leading to greater investments in LNG production and distribution vessels and platforms. Ong highlighted that Seatrium's expertise in designing and building these structures has opened new opportunities for the company. The company, which is among a handful globally with this experience, pioneered the engineering of floating storage and regasification units in 2008. These vessels are essential for transporting, storing, and converting LNG into gas for distribution to countries' gas grids. Ong emphasized that the growing demand for these units is driven by LNG supply constraints, the need for energy security, and the push for energy diversification. Seatrium's vessels and platforms facilitate the import of offshore LNG supplies, enabling countries to quickly secure their energy needs. The company has now expanded its operations to include floating LNG vessels capable of extracting, processing, liquefying, and storing natural gas offshore. Seatrium currently has a net order book valued at $13.3 billion, comprising 24 projects with deliveries slated through 2033. Net profits for the first half of 2026 surged 158% to $373 million, marking a 4.7% year-on-year revenue increase to $5.6 billion. Seatrium anticipates its fiscal year 2026 net profit to exceed the previous year's figures. The company has identified global pipeline opportunities worth over $32 billion in the next two years, spanning oil and gas, offshore wind, and conversions, positioning it for a revenue target of $10-12 billion by fiscal year 2028. Seatrium is also exploring growth opportunities in higher-value segments such as cruise, naval, and power vessels, as well as newbuilds, conversions, and upgrades in West Africa, South-east Asia, and Brazil. The company is also keeping an eye on potential opportunities in offshore wind energy, given long-term demand in the region and ambitious renewable energy targets across the Asia-Pacific. Despite the conflict in the Middle East, Seatrium's operations have not been directly disrupted, though challenges such as limited flights exist. Ong remains optimistic about the future prospects for Seatrium in this evolving global energy landscape.",
  "summary": "The company's net profit rose 158% to $373 million in the first half of 2026, driven by strong LNG demand.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}