Excelerate Energy Files Formal Application with FERC for the Aguirre Offshore GasPort LNG Import Facility in Puerto Rico

OFFSHORE AGUIRRE, Puerto Rico, April 19, 2013 /PRNewswire/ -- Excelerate Energy and the Puerto Rico Electric Power Authority (PREPA) have filed their formal application with the Federal Energy Regulatory Commission (FERC).

(Photo: http://photos.prnewswire.com/prnh/20130419/DA97780)

(Logo: http://photos.prnewswire.com/prnh/20111202/MM16235LOGO)

The filing represents a major milestone in the permitting process and signifies a step closer to receiving approval to build and operate a floating offshore liquefied natural gas (LNG) regasification facility off the southern coast of Puerto Rico.

The Aguirre Offshore GasPort® is a proposed LNG import facility located approximately four miles offshore the southern coast of Puerto Rico, near the town of Salinas. The facility will provide fuel to the Aguirre Central Complex and will convert power generation from high-cost, high-emissions imported oil to cost-effective, cleaner-burning natural gas. The Central Aguirre Power Complex will convert 900 MW of existing power generation to be dual-fueled, capable of using No. 2 diesel and/or natural gas as its primary fuel.

The companies anticipate FERC will issue the draft Environmental Impact Statement (EIS) in the third quarter 2013 and a final EIS early 2014. As part of the process, public hearings will be held so interested parties and the communities may participate in the process. Pending approval from FERC, the facility is expected to be in-service in early 2015. Prior to the filing, Excelerate has held numerous presentations for communities and interested parties in the Aguirre area. 

ABOUT THE PUERTO RICO ELECTRIC POWER AUTHORITY
The Puerto Rico Electric Power Authority (PREPA) is a public corporation that was founded in 1941. PREPA owns and operates electric generating and distribution facilities serving all of Puerto Rico, supplying the majority of the power consumed on the Island. Dependable generating capacity aggregates approximately 4.4 million kilowatts, and adequately supplies the highly industrialized economy of Puerto Rico. PREPA is directed by a Government Board.

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. Headquartered in The Woodlands, Texas, Excelerate has an established presence in London, Dubai, Kuwait City, Buenos Aires, and Rio de Janeiro. For more information, please visit www.excelerateenergy.com.

SOURCE Excelerate Energy L.P.