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Excelerate Energy and the German Government Sign FSRU Charter Agreement

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Excelerate Energy, Inc. (NYSE: EE) has signed a five-year contract with the German government to charter the floating storage and regasification unit (FSRU) Excelsior. This contract aims to enhance energy security and supply diversification in Germany, aiding its transition to renewable energy. The Excelsior has an LNG storage capacity of 138,000 m³ and will be deployed at the Port of Wilhelmshaven in Q1 2023 after scheduled maintenance. This partnership aligns with the U.S.-EU Task Force on Energy Security.

Positive
  • Five-year contract with the German government enhances business prospects.
  • FSRU Excelsior will provide energy security and supply diversification.
  • Supports Germany's transition to renewable energy.
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  • None.

THE WOODLANDS, Texas--(BUSINESS WIRE)-- Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) and the Government of the Federal Republic of Germany signed a five-year contract today in Berlin to charter the floating storage and regasification unit (FSRU) Excelsior to help provide energy security and supply diversification to Germany while supporting the country’s transition to renewable energy.

Excelerate Energy FSRU at terminal in Bahia Blanca, Argentina (Photo: Business Wire)

Excelerate Energy FSRU at terminal in Bahia Blanca, Argentina (Photo: Business Wire)

Excelerate’s President and CEO Steven Kobos and Dr. Patrick Graichen, State Secretary at the Federal Ministry for Economic Affairs and Climate Action (BMWK), signed the contract at BMWK headquarters in a ceremony also attended by Woodward Clark Price, Chargé d’Affaires of the United States Embassy in Berlin.

“The deployment of the FSRU Excelsior to Germany demonstrates our commitment to strengthening energy security at a time when traditional energy sources have proven unreliable,” said Steven Kobos, President and CEO of Excelerate. “FSRUs have the ability to offer flexible access to greater supply diversification and can serve as a complementary backstop for the rapid scaling of green energy projects. These benefits are consistent with the stated goals of the U.S.-EU Task Force on Energy Security.”

BMWK previously announced that a consortium including Tree Energy Solutions, E.ON, and Engie would jointly develop and implement Germany’s fifth FSRU import terminal using an Excelerate vessel. The FSRU will accelerate the development of TES’ green hydrogen terminal at Wilhelmshaven.

Under the terms of the agreement, the FSRU Excelsior will go on charter in the first quarter of 2023. The Federal Republic of Germany intends to deploy the vessel in the Port of Wilhelmshaven. The Excelsior, which has an LNG storage capacity of 138,000 m3 and send-out capacity of 5 bcm/y, will go to drydock at the end of 2022 for scheduled maintenance prior to its deployment to Germany.

ABOUT EXCELERATE ENERGY:

Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.

Investors

Craig Hicks

Excelerate Energy

craig.hicks@excelerateenergy.com

Media

Stephen Pettibone / Frances Jeter

FGS Global

Excelerate@fgsglobal.com

or

media@excelerateenergy.com

Source: Excelerate Energy, Inc.

FAQ

What is the recent contract signed by Excelerate Energy (EE)?

Excelerate Energy signed a five-year contract with the German government to charter the FSRU Excelsior.

How does the FSRU <i>Excelsior</i> benefit Germany?

It enhances energy security and supply diversification, aiding Germany's transition to renewable energy.

What are the storage and send-out capacities of the <i>Excelsior</i>?

The Excelsior has an LNG storage capacity of 138,000 m³ and a send-out capacity of 5 bcm/y.

When will the <i>Excelsior</i> be deployed in Germany?

The Excelsior is set to be deployed at the Port of Wilhelmshaven in the first quarter of 2023.

What is the significance of the FSRU <i>Excelsior</i> for Excelerate Energy (EE)?

The contract strengthens Excelerate's market position and showcases its capabilities in providing LNG solutions.

Excelerate Energy, Inc.

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