Aguirre Offshore GasPort Project Receives EIS from FERC

Excelerate Energy ("Excelerate"), in cooperation with the Puerto Rico Electric Power Authority ("PREPA"), has received the final Environmental Impact Statement ("EIS") from the Federal Energy Regulatory Commission ("FERC") for its Aguirre Offshore GasPort Project ("Project") located offshore Puerto Rico.

The EIS assesses the environmental impacts of the liquefied natural gas ("LNG") terminal proposed by Excelerate and determines if the Project is suitable for construction and operation. 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 during construction. Moreover, the statement confirms the inherent benefits of the Project of improving air quality in the region and reducing barge traffic in Jobos Bay.

"We are pleased with FERC's final assessment that concludes the facility will have minimal impact on the environment," stated Daniel Bustos, chief development officer of Excelerate. "The EIS is a result of an in-depth environmental review process by FERC and addresses the input from cooperating agencies and the public. Excelerate will implement any necessary mitigation measures and meet the conditions outlined in the EIS. We are committed to constructing a safe, environmentally sound, and reliable facility."

"The Aguirre Offshore GasPort is a national project, and the publication of the EIS represents an important step in the development of the project. This project is critical in order for PREPA to ensure a cleaner source of energy and to reduce emissions of air pollutants, thus allowing compliance with the new federal regulations, as proposed under the Clean Air Act. Above all, we are committed to improving the quality of life for residents of the Island," stated PREPA's executive director, Juan F. Alicea Flores.

"Both Excelerate and PREPA have been working together for the past several years to reach this significant milestone in the project," added Rob Bryngelson, chief executive officer of Excelerate. "We appreciate PREPA's confidence in us to provide Puerto Rico with a safe, reliable, and clean fuel source for power generation, and that confidence is well-placed given our unmatched experience and expertise in delivering floating regasification solutions."

The release of the EIS comes after three years of extensive analysis through the environmental review process. Within this timeframe, Excelerate has responded to data requests from FERC, cooperating agencies, and the general public. In addition, both Excelerate and PREPA have held numerous meetings with both the private and public sectors to ensure complete transparency throughout the entire permitting process. The FERC issued the draft EIS on August 7, 2014, which opened the public comment period until September 29, 2014. Modifications to the original subsea pipeline laying method were made based on comments received on the draft EIS.

In the coming months, Excelerate will continue to work with FERC and cooperating agencies to obtain the required certificates and permits. The facility is expected to be in service in 2016.