Excelerate Energy signs agreements with DSME for seven FSRUs

THE WOODLANDS, Texas -- Excelerate Energy announced that it has executed a Letter of Intent (LOI) with Daewoo Shipbuilding and Marine Engineering for the delivery of up to seven floating storage and regasification units (FSRUs).

Photo Courtesy of Excelerate Energy.

The LOI gives Excelerate the ability to order one FSRU in the second quarter 2017. As the world's largest operator of regasification vessels and developer of LNG import solutions, the agreement affords Excelerate the ability to respond to increasing market demand for natural gas as its existing fleet of nine FSRUs become committed to long-term projects.

The initial specifications are for 173,400 m³ LNG FSRUs with a baseload send-out capacity of 1.0 Bcf/d, but can be modified to suit specific project needs. These vessels will incorporate Excelerate's technologies and experience. Excelerate partnered with DSME on its existing fleet of FSRUs, including the industry's first regasification vessel the Excelsior, which have proven to be to be versatile in diverse environments around the world.

"Excelerate Energy is very pleased to continue its longstanding relationship with DSME in building the industry's leading FSRUs. These vessels have been proven in long-term service as safe, efficient and reliable components of our comprehensive suite of LNG import solutions," said Excelerate Chief Executive Officer Rob Bryngelson. "We believe this is the right time to move forward with DSME as we continue to provide LNG import solutions in a timely and efficient manner around the world."

Excelerate has developed and commissioned 10 floating LNG import facilities worldwide, with two currently in advanced stages of development in Bangladesh and Puerto Rico. 

• Most Read
• Most Commented