AUGUST 7, 2012—Excelerate Energy, The Woodlands, TX, has entered into a shipbuilding option agreement with Korea’s 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 initial options are for 173,400 m3 LNG FSRUs that will measure 294m x  46m 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.

Excelerate Energy 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," says 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.

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