Excelerate Energy News

U.S.-based LNG firm Excelerate Energy has signed a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with the Bangladesh Oil, Gas & Mineral Corporation (Petrobangla). Petrobangla has agreed to purchase 0.85 to 1.0 million tonnes per annum (MTPA) of LNG from Excelerate for a term of 15 years beginning January 2026. Excelerate will deliver 0.85 MTPA of LNG in 2026 and 2027 and 1 MTPA from 2028 to 2040.Excelerate first opened the Bangladesh market to LNG in 2018 with the development of its integrated Moheshkhali LNG floating storage and regasification unit (FSRU) terminal.

GE Vernova’s Power Conversion recently won a contract award from HD Hyundai Heavy Industries Co. to supply GE Vernova’s SeaGreen integrated power and propulsion system, equipped with high power-density induction motor technology, to power and propel the next-generation FSRU for United States ship owner Excelerate Energy Inc."The FSRU, to be constructed at HD Hyundai Heavy Industries’ shipyard, is to be fitted with the latest, proven technology for optimized vessel energy management and performance…

Bangladesh's Moheshkhali liquefied natural gas (LNG) terminal, operated by Excelerate Energy, resumed supply at nearly full capacity late on Sunday, two government officials told Reuters, after being closed for about a week due to a deadly storm. The resumption of operations at the two terminals is set to provide a respite to millions of Bangladesh citizens, who have been hit by frequent outages in recent months. The closure of the Moheshkali and the Summit LNG floating regasification…

Finland’s new Inkoo floating storage regasification unit (FSRU) terminal on Sunday accepted its first cargo of liquefied natural gas (LNG).The cargo, which was ordered by Elenger, the largest privately owned energy company in the Finnish-Baltic region, was delivered by multinational energy and commodity trading company Vitol.The cargo, which originates from Vitol’s Venture Global Calcasieu Pass facility in the U.S., was transported aboard Vitol's LNG carrier Vivit Americas LNG.

U.S. liquefied natural gas (LNG) company Venture Global LNG said on Monday that it will go forward with the second phase of its Plaquemines LNG export plant in Louisiana after securing $7.8 billion of financing.Phase two's final investment decision (FID) comes after the first phase was sanctioned in May.Venture Global said that completes about $21 billion in total for Plaquemines, the largest project financing ever done in the space, to build the terminal that would produce about…

Excelerate Energy's floating storage and regasification unit (“FSRU”) Exemplar arrived at the port of Inkoo, Finland on December 28, 2022. The FSRU was previously loaded with a partial cargo of liquefied natural gas (LNG) which will serve as the initial commissioning cargo for the terminal."The FSRU Exemplar, which is chartered to Gasgrid Finland Oy (“Gasgrid”) for a period of ten years, will provide flexible, reliable, and secure delivery of regasified LNG to Finland and other Baltic countries," the FSRU owner said.

A Finnish-Estonian liquefied natural gas (LNG) import vessel will be based in Finland's Inkoo port from the start later this year, the two countries said in a joint statement on Monday.The Finnish and Estonian governments in April decided they would replace lost Russian gas imports by together renting an LNG terminal and later opted to charter the vessel from U.S based Excelerate Energy for 10 years.Two sites have been developed for the vessel, one in Paldiski in Estonia and the other at Inkoo in Finland, with either port being a possible location initially."It can be concluded that placing th

U.S.-based LNG firm Excelerate Energy said Thursday that it had signed a term sheet with ENGIE for the deployment of a floating storage and regasification unit (“FSRU”) that will provide flexible and secure LNG regasification capacity for Germany as it continues to seek alternatives to Russian pipeline gas supply.Under the proposed agreement, Excelerate would deploy an FSRU from its integrated fleet to provide regasification services for a period of five years at Germany’s fifth planned LNG import terminal…

Excelerate Energy said it has signed a memorandum of understanding (MOU) with Engro Eximp FZE, a subsidiary of Engro Corporation, to evaluate the possibility of establishing a regasified liquefied natural gas (LNG) marketing business with maximum participation from Pakistan’s private sector."This collaboration has the potential to increase the private sector’s participation in Pakistan’s LNG sector and enhance Pakistan’s energy security by opening new regasified LNG supply avenues for businesses and consumers," Excelerate said.

U.S.-based LNG company Excelerate Energy and a subsidiary of Gasgrid Finland, a Finnish state-owned natural gas transmission system operator, on Friday signed a ten-year deal in Helsinki for the charter of a floating storage and regasification vessel (FSRU) that they said would provide "flexible, reliable, and secure" supply of liquefied natural gas (LNG) to Finland, Estonia, and the Baltic Sea Region.Excelerate President and CEO Steven Kobos, Gasgrid Finland CEO Olli Sipilä,…

Excelerate Energy has started natural gas deliveries to the Brazilian market at the Bahia Regasification Terminal (TR-BA) in Salvador, Bahia, in Brazil.Excelerate's floating storage and regasification unit (FSRU) Excelerate Sequoia, which has an LNG storage capacity of 173,400 cubic meters, is providing regasification services at TR-BA. The terminal has a regasification capacity of up to 700 million cubic feet per day.Excelerate and Petrobras signed the lease contract for TR-BA on September 28, following a competitive international tender process.

Excelerate Energy will deploy one of its FSRUs in Bahia, Brazil, having recently successfully concluding negotiations with Petrobras over the tender process for the lease of the Bahia Regasification Terminal.Excelerate will deploy one of its existing Floating Storage and Regasification Units (FSRU) for service at the Bahia Regasification Terminal, start importing LNG and selling regasified natural gas to its Brazilian customers, once the financial and legal qualification and certification stages have been concluded and all necessary regulatory approvals have been obtained.Steven Kobos…

Excelerate Energy’s floating storage and regasification unit (FSRU) the Exemplar has begun operations in Bahia Blanca, a port city located 400 miles south of the Argentine capital Buenos Aires.The Exemplar, with a storage capacity of 150,900 m3, will deliver liquefied natural gas (LNG) for the 2021 winter season in Argentina, providing reliability and stability to the country’s energy system despite operating in the challenging conditions of the South Atlantic.“We are excited…

The Liberian Registry announced Dallas Smith has been hired as the Director of LNG and Offshore Technology, and as General Manager of the Liberian International Ship and Corporate Registry’s (LISCR) new Houston Office.Smith brings to his new role at LISCR over 20 years of experience as an officer in the U.S. Coast Guard. Before his retirement last month, Smith was head of the USCG Liquefied Gas National Center of Expertise where he was responsible for executing the Coast Guard’s entire liquefied gas safety, security, and environmental compliance mission around the world.

South Korean shipbuilding firm Daewoo Shipbuilding and Marine Engineering (DSME) has earlier this month delivered a floating storage regasification unit (FSRU) to Excelerate Energy.The FSRU, named the Excelerate Sequoia, is Excelerate Energy's tenth FSRU vessel. All ten FSRUs were built by DSME.The vessel has a storage capacity of 173,400 cubic meters and is capable of operating as both an FSRU and a fully tradable LNG carrier, Excelerate Energy said. In September of last year, Excelerate and Maran Gas Maritime Inc. (MGM) signed a five-year bareboat charter agreement (BBC) for the FSRU.

Houston-based Excelerate Energy’s unit, Excelerate Technical Management (ETM) has been authorized to operate as ship manager for its parent company’s entire fleet of floating storage and regasification units (FSRUs).The Republic of the Marshall Islands and the Government of Belgium have awarded Interim Documents of Compliance (DoC) under the International Safety Management (ISM) Code to ETM.The Interim DoC is the result of an audit of ETM’s safety management system, confirming compliance with ISM standards which ensure the safe operation of its crew and vessels.“Excelerate has achieved a company milestone with the successful launch of our ship management services. The Compliance certification is tangible evidence of the forward-thinking, dedicated effort of our team.

Excelerate Energy announced it has agreed with partner Engro Elengy Terminal Ltd. (EETL) to expand the EETL liquefied natural gas (LNG) import terminal in Port Qasim, Pakistan.Under the heads of agreement (HOA), Excelerate will exchange its existing floating storage and regasification unit (FSRU) Exquisite with a newbuild FSRU, Hull 2477, which is currently under construction at South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and due to be delivered in April 2020.

The world’s largest liquefied natural gas (LNG) producer Qatargas Operating Company Limited (Qatargas) has delivered the first Q-Flex cargo of the chilled fuel to the Summit LNG floating storage and regasification unit (FSRU) located offshore Bangladesh.The cargo, aboard Qatargas-chartered 'Al Safliya', was loaded at Ras Laffan Port on 27 December 2019 and delivered to the FSRU on 14 January 2020.This is the first commercial open water ship-to-ship transfer involving a Q-Flex vessel delivering to Petrobangla (LNG buyers) at their Summit LNG Terminal (SLNG).SLNG is a project jointly developed by Excelerate Energy and the Bangladesh Oil…

Global small-scale LNG market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026.Increasing demand for the LNG is the major factor for the growth of this market, said Data Bridge Market Research.The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker, ships and trucks.These small LNG has production capacity of 500000 TPY and are usually used where there is requirement of LNG by the consumers.

Belgium-based floating assets specialist Exmar said that it  has two newbuild 88,000 m³  Very Large Gas Carriers (VLGC) on order at Jiangnan Shipyard (China) which will use LPG as a fuel marking a new era for the Company and the industry.Both vessels are committed to a long-term charter with Equinor after delivery in 2021, said the provider of floating solutions for the operation, transportation and transformation of gas.Currently, Exmar controls one chartered vessel in this segment, the 83,300 m³ BW TOKYO that is chartered to Trafigura until the fourth quarter of 2019. The hire is determined by a mix of fixed freight elements as well as a straight link to the Baltic Gas Index.Meanwhile…

Philippine authorities have given Excelerate Energy LP permission to proceed on plans to develop a floating natural gas import terminal to supply existing and new power generation.Texas-headquartered player in floating LNG regasification solutions, received a notice to proceed (NTP) from the Philippine Department of Energy (DOE) to develop Luzon LNG, which would be a floating liquefied natural gas (FLNG) terminal in the Bay of Batangas.The project, Luzon LNG, will supply natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon including the area of Metro Manila. This abundant and secure source of gas supply will augment the existing gas production from the domestic Malampaya fields…

Qatargas made its first liquefied natural gas (LNG) cargo delivery (LNG) on a Q-Flex vessel to the Floating Storage and Regasification Unit (FSRU) named ‘Excellence’ and known as Moheshkali LNG Terminal (MLNG), located offshore Bangladesh.According to a press release from the Qatargas Operating Company, the cargo, aboard Qatargas-chartered ‘Al Thumama’, was loaded at Ras Laffan on 4th September and delivered to MLNG on 20th September 2019. This is the first commercial open water ship-to-ship transfer involving a Q-Flex vessel. MLNG is a project jointly developed by Excelerate Energy and the Bangladesh Oil, Gas and Mineral Corporation (Petrobangla) on a build…

Excelerate Energy and Maran Gas Maritime have signed a five-year bareboat charter agreement (BBC) for the floating storage regasification unit (FSRU) hull 2477.During the five-year BBC Excelerate will have the option to purchase Hull 2477. MGM is currently building Hull 2477 at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and is scheduled for delivery in April 2020, when the BBC will start.The vessel will have a storage capacity of 173,400 m3 and will be capable of operating as both an FSRU and a fully tradable LNG carrier.Hull 2477 will join Excelerate's existing fleet of nine FSRUs, all built by DSME, and will serve Excelerate's portfolio of regasification customers.