EXMAR, Excelerate Confirm Charter
EXMAR confirms a long-term charter party with Excelerate Energy LP of a further liquefied natural gas regasification vessel (LNGRV). The vessel will be built by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME), and will incorporate the GTT membrane containment system together with Excelerate’s Energy Bridge technology, with delivery in the 2nd quarter of 2009. Excelerate Energy LP will use the ship to deliver regasified LNG to the Gulf of Mexico Deepwater Port, and to support their application to construct a NorthEast Gateway - a deepwater port to be located offshore in Massachusetts Bay, near Boston in New England.
Landmark STS LNG Transfer Achieved
Excelerate Energy Performs 700th Ship-to-Ship Transfer of LNG. Excelerate Energy L.P. (Excelerate) completed its 700th commercial Ship-to-Ship (STS) transfer of LNG on January 7, 2015 in Escobar, Argentina at the GNL Escobar LNG import facility. Using Excelerate Energy's regasification vessel, EXEMPLAR and the conventional LNG carrier CADIZ KNUTSEN, 73,778 cubic meters of LNG were transferred using the double-banked LNG transfer system. Excelerate has successfully transferred over 74,000,000 cubic meters using its STS protocol – of the 700 operations, 602 have been with third-party vessels.
Petrobangla, Excelerate Energy Deal for LNG terminal
Petrobangla has signed an agreement with Excelerate Energy Singapore Pte Ltd to establish a floating storage and re-gasification unit (FSRU) at Maheshkhali to facilitate the supply of 500 mmcfd imported liquefied natural gas to the country. Syed Ashfakuzzaman, secretary of state-run Petrobangla, and Karlman Tham, business development manager for Asia region of Excelerate Energy, signed the deal at Petrobangla in Dhaka. Under the agreement, the EEBL, a subsidiary of US-based Excelerate Energy…
Excelerate Buys EXMAR’s Share in Four FSRUs
Excelerate Energy has acquired the full 50 percent shares held by EXMAR in four companies, Excelerate NV, Explorer NV, Express NV and Excelsior BVBA, each owners of the respective Floating Storage and Regasification Units (FSRU) registered under the same names, and all four of which are under a long-term time charter to Excelerate Energy. The sale of the first three companies has been completed, while the sale of EXMAR’s shares in the fourth company, Excelsior BVBA, remains subject to approval by JV partner Teekay LNG and company lenders. George B.
Bangladesh’s First LNG Import Terminal in the Works
Excelerate Energy and Petrobangla have reached agreement on terms for the development and operation of Bangladesh’s first LNG import terminal. The agreement includes the provision of one of Excelerate’s existing floating storage and regasification units (FSRU) under a 15-year long-term charter, as well as the design and construction of the facility. Located offshore near Moheshkhali Island in the Bay of Bengal, the terminal will provide much needed natural gas to the southeastern Chittagong region of Bangladesh. The facility will include the installation of a subsea buoy system anchored offshore. The buoy system will act as both the mooring mechanism for the FSRU and as the conduit through which natural gas is delivered to shore through a subsea pipeline.
UAE Plans Floating LNG Import Terminal
State-owned Abu Dhabi National Oil Co. (ADNOC) plans to start a new liquefied natural gas floating import terminal (FSRU) in the second half of this year, three LNG industry sources said. The floating import terminal is being supplied by U.S. gas shipping company Excelerate Energy, the sources said. Both ADNOC and Excelerate Energy did not respond to requests for comment. One of the sources said the terminal's import capacity will be about 1 million tonnes per annum. The UAE already imports LNG via a floating terminal supplied by Excelerate Energy off the coast of Dubai.
Connaughton Signs Northeast Gateway Deepwater Port License
Sean T. Connaughton signed Excelerate Energy’s Northeast Gateway Energy Bridge Deepwater Port license today in Washington DC. Excelerate will build the Northeast Gateway deepwater port approximately 18 miles east of Boston, Massachusetts. Spectra Energy, formerly Duke Energy, will build a 16-mile subsea pipeline from its existing HubLine to the deepwater port site to transfer natural gas from the vessels into New England’s gas pipeline network. Excelerate Energy will construct and own the deepwater port, which will be operated by Skaugen Offshore and will accommodate Excelerate’s proprietary Energy Bridge Regasification Vessel (EBRV) fleet operated by Exmar NV. The port’s infrastructure will feature two submerged turret loading buoys supplied by Advanced Production and Loading.
Excelerate Energy Completes FSRU Sale and Leaseback
Excelerate Energy announced it has completed the long-term sale and leaseback of the FSRU Experience with a wholly owned subsidiary of CMB Financial Leasing Co. Upon completion of the 10-year agreement, Excelerate will re-purchase the FSRU from CMB. The transaction demonstrates the market’s confidence in FSRUs as financeable and dependable assets and positions Excelerate well for future financings as part of its growth strategy. The agreement enables the swap of short-term debt for long-term debt at the ultimate shareholder level…
MEBA Signs LNG Crewing Agreement with Excelerate Energy
natural gas (LNG) carriers. congressional and administrative oversight over the last few years. address this issue. securing LNG tankers. well, working with Excelerate and other LNG operators. certifications for loading and discharging LNG. officers will join Excelerate's international fleet of LNG vessels.
Excelerate Energy makes Pakistan's first STS LNG transfer
On July 17, 2015, Excelerate Energy L.P. completed the first Ship-to-Ship (STS) transfer of LNG at the Engro Elengy LNG Terminal located in Port Qasim, Pakistan. Excelerate’s floating storage and regasification unit (FSRU), EXQUISITE, received 130,000 cubic meters of LNG from the FSRU EXCELERATE using the double-banked LNG transfer system. This transfer also marks the company’s 500th commercial STS operation using the double-banked cryogenic transfer system technology developed by Excelerate.
LNG Import Terminal Opens in Pakistan
On March 28, 2015, officials from Engro Corporation, Excelerate Energy and the Government of Pakistan were present for the inauguration of Pakistan's first LNG import terminal in Port Qasim. Located in a channel of the Indus River east of Karachi, the terminal is a result of a fast-track LNG import solution built to alleviate the energy shortage facing the country, and was brought into service 11 months from the start of construction. Utilizing Excelerate's floating storage and regasification vessel (FSRU), the Exquisite, the facility has the capacity to deliver up to 690 MMcf/d of natural gas directly to Sui Southern Gas Company's natural gas pipeline system. As part of the commissioning process, Exquisite loaded its first LNG cargo in Ras Laffan, Qatar, on March 24, 2015.
Excelerate Energy Reduces Size of its LNG Trading Desk
U.S. gas shipping company Excelerate Energy has laid off six staff on its global liquefied natural gas (LNG) trading desk as part of a reorganisation, a spokeswoman at the company said on Friday. Texas-based Excelerate said the commercial trading and chartering team was being downsized, but the company would continue to be active in those areas. Founded by Oklahoma billionaire George Kaiser, Excelerate currently owns the world's largest fleet of floating LNG import terminals, with a total of nine floating storage and regasification units (FSRUs).
Excelerate Energy Orders FSRU Vessels from DSME
Excelerate Energy enters Into a shipbuilding option agreement with DSME for 8 New Floating Storage and Regasification Units (FSRUs). The option agreement with Daewoo Shipbuilding and Marine Engineering (DSME) is for the delivery of up to eight Floating Storage and Regasification Units (FSRUs) between early 2015 and early 2017. The agreement gives Excelerate, the world's largest operator of regasification vessels and developer of LNG import solutions, an increase in the size of its existing fleet of nine FSRUs as global demand for LNG import solutions continues to expand rapidly.
EXMAR Orders Fourth LNGRV
Exmar confirms a long-term charter party with Excelerate Energy LP, the liquefied natural gas shipper and marketers based in Woodlands, Texas, of a further liquefied natural gas regasification vessel (LNGRV). The vessel will be built by Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) as DSME Hull No. 2254 and will be named the EXPLORER. The EXPLORER, the ownership of which will be a Exmar 80% / Excelerate Energy 20% joint venture, will be constructed using the membrane containment system together with Excelerate’s Energy Bridge™ technology and will have a capacity of approximately 150,900 m³ with delivery in the 1st quarter of 2008.
Svitzer Bags FSRU Support Contract in Bangladesh
Svitzer will provide marine support services for the Excelerate Energy FSRU at Bangladesh’s first liquefied natural gas (LNG) import terminal. Excelerate Energy Bangladesh Limited awarded Svitzer the 15-year contract following a competitive tender process. The contract also includes a five-year option. Bangladesh’s first LNG import terminal, located offshore Moheshkhali Island in the Bay of Bengal, will enable Petrobangla, the state owned energy company, to increase natural gas supply in the country by up to 20 percent, sufficient to support up to 3,000 MW of power generation capacity. The construction of the terminal will commence in the fourth quarter of 2017 and is anticipated to be in service by mid- 2018.
Educational Outreach to U.S. Mariner Candidates
Excelerate Energy and Exmar are increasing their educational outreach efforts by working in cooperation with several National Maritime Enhancement Institutes to offer U. S. citizen cadets berths on LNG tankers. Excelerate hopes to offer berths to some cadets as soon as January 2006 and to others in time for next summer’s training cruise season. Additionally, Excelerate is now working with Texas A&M Galveston to develop a curriculum, course and lecture material for a class specializing in the safe handling, and transmission of liquefied natural gas in response to the nation’s need for U.S. Mariner Candidates skilled in the handling of liquefied natural gas.
Aguirre Offshore GasPort Project FERC, USCG Approved
Excelerate Energy’s Aguirre Offshore GasPort Project Receives Notice of Schedule from FERC and Letter of Recommendation from the U.S. On May 2, 2014, Excelerate Energy received the Notice of Schedule for Environmental Review from the Federal Energy Regulatory Commission (FERC) for its Aguirre Offshore GasPort Project (AOGP) located offshore Puerto Rico. On the same day, the project also received the Letter of Recommendation (LOR) from the Unites States Coast Guard (USCG). Both notices are clear indicators that there are no major obstacles for the proposed facility and the project is progressing in a positive manner. The FERC schedule…
LNG Vessel Docks at Teesport
PD Ports welcomed the arrival of U.S.A based Excelerate Energy’s first full LNG vessel, since the regasification facility opened at Teesport in 2007. The liquefied natural gas (LNG) tanker, named after its owners, Excelerate, entered the Tees River in the early hours of Monday 13th April. The vessel, which stands some 909 ft in length, was carrying 58,500 tonnes of LNG. The vessel had sailed from Point Fortin in Trinidad. The vessel is currently berthed on the purpose built Excelerate jetty at Teesport, where she will remain for up to two weeks. During this time she will re-gasify her cargo and discharge the finished LNG into the UK gas grid – the National Transmission System (NTS).
Opening of Argentina's Second LNG Import Facility
With President Cristina Fernandez de Kirchner present to honor the opening of Argentina's second LNG import facility, a joint development between YPF S.A., ENARSA and excelerate Energy, GNL Escobar (GNLE) was officially open for business on June 8, 2011. Located on the Parana River, about 30 miles outside Buenos Aires City, GNLE utilizes Excelerate Energy's GasPort design. As well as providing increased peak capacity for the high-demand winter months, the facility delivers additional natural gas supply and transport capacity to the Buenos Aires region.
FERC Issues DEIS for Gasport off Puerto Rico
Excelerate Energy, in cooperation with the Puerto Rico Electric Power Authority (PREPA), has received the Draft Environmental Impact Statement (DEIS) from the Federal Energy Regulatory Commission (FERC) for its Aguirre Offshore Gasport Project (AOGP) located offshore Puerto Rico. The FERC staff concludes in its statement that the construction and operation of the Project would result in limited adverse environmental impacts that would mostly occur only during construction. Moreover…
Exmar Profits from LPG, LNG
During the first six months the LPG fleet contributed $19.7 million to the operating result (EBIT) (compared to $12.3 million for the first six months in 2004). This result was positively influenced by a profit of $4.7 million realized on the sale of the 50% participation of EXMAR in the LADY KIRA (5,000 m³/1994) and in the BIRGIT KOSAN (5,000 m³/1999). The Midsize, Ethylene and Pressurized segments contributed as budgeted and Time-Charter levels reflected a firm market sentiment. The VLGC fleet however did not meet expectations particularly due to persistent uncertainty on LPG pricing related to crude oil fluctuations and reduced product availability ex Arabian Gulf.
FSRUs Perform STS Transfer of LNG in Pakistan
Excelerate Energy L.P. completed the first ship-to-ship (STS) transfer of liquefied natural gas (LNG) at the Engro Elengy LNG Terminal located in Port Qasim, Pakistan on July 17, 2015. Excelerate's floating storage and regasification unit (FSRU) Exquisite received 130,000 cubic meters of LNG from the FSRU Excelerate using the double-banked LNG transfer system. This transfer also marks the company's 500th commercial STS operation using the double-banked cryogenic transfer system technology developed by Excelerate.
Bangladesh Inks LNG Deal with Excelerate
Bangladesh on Thursday signed a deal with Texas-based Excelerate Energy to build its first floating terminal for importing liquefied natural gas (LNG) as it looks to ease chronic energy shortages. The floating storage and regasification unit (FSRU) terminal at Moheshkhali Island in the Bay of Bengal will be able to handle 5 million tonnes of LNG per year, Istiaq Ahmed, chairman of the state-run Bangladesh Oil, Gas and Mineral Corporation, said at a signing ceremony in Dhaka. Excelerate will develop the terminal by the first quarter of 2018 and operate it for 15 years, he said.