Excelerate Energy Enters Into a Shipbuilding Option Agreement with DSME for Eight New FSRUs
THE WOODLANDS, Texas, Aug. 7, 2012 /PRNewswire/ -- Excelerate Energy today announced it has entered into a shipbuilding option agreement with Daewoo Shipbuilding and Marine Engineering (DSME) for the delivery of up to eight Floating Storage and Regasification Units (FSRUs) between early 2015 and early 2017. The agreement affords Excelerate, the world's largest operator of regasification vessels and developer of LNG import solutions, the ability to increase its fleet of nine FSRUs as global demand for LNG import solutions continues to expand rapidly.
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The initial options are for 173,400 m3 LNG FSRUs that will measure 294 meters in length and 46 meters in width and will be capable of a baseload send-out capacity of 800 MMcf/d with peaking capacity in excess of 950 MMcf/d. The FSRUs will be based on Excelerate's ninth FSRU under construction at DSME and committed to the Petrobras VT3 project. The company has the option for smaller or larger capacity vessels depending on the future requirements of the market. The new vessels will incorporate Excelerate Energy's proven Energy Bridge™ technologies and will represent the largest and most capable FSRUs in the world.
"Excelerate Energy is very pleased to continue its longstanding relationship with DSME in building the industry's leading FSRUs which, in long-term service, have proven to be safe, efficient and reliable components of our comprehensive suite of LNG import solutions," said Edward Scott, Excelerate Energy's Senior Vice President of Development. "As we see our existing assets being committed to projects and the worldwide market continuing to grow, we believe this is the right time to partner with DSME in order to continue to provide LNG import solutions in a timely and efficient manner."
Excelerate has developed and commissioned six LNG import facilities worldwide, with a seventh facility entering service in the fourth quarter of 2012 and an eighth terminal currently in advanced stages of development in Puerto Rico. Looking forward, Excelerate has a significant project development portfolio for both floating regasification as well as floating LNG production projects. The additional vessels will support the advancement of these projects.
ABOUT EXCELERATE ENERGY®
Excelerate Energy L.P. is a developer of LNG transportation and regasification infrastructure, a provider of LNG storage and regasification services, an importer of LNG and it recently entered into LNG production. Today, Excelerate Energy leads the industry in the development of innovative, flexible and less capital intensive floating LNG import solutions based on its dockside (GasPort®) and offshore (Gateway™) Energy Bridge shipboard regasification technology. The company also operates as a global LNG Marketing and Trading organization active in the short-term market. Headquartered in The Woodlands, Texas, Excelerate has an established presence in London, Dubai, Kuwait City, Buenos Aires, and Rio de Janeiro, employing more than 100 office personnel and an excess of 500 seafarers globally. For more information, please visit www.excelerateenergy.com (http://www.excelerateenergy.com)
SOURCE Excelerate Energy L.P.
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