Excelerate Energy Completes 3,000th LNG Ship-To-Ship Transfer Operation

Rhea-AI Summary

Excelerate Energy (NYSE: EE) has achieved a significant milestone by completing its 3,000th LNG ship-to-ship (STS) transfer operation on December 28, 2024. The operation was performed at the Moheshkhali Floating LNG terminal in Bangladesh, involving Excelerate's floating storage and regasification unit (FSRU) Excellence and Maran Gas Maritime Inc.'s LNG carrier, the Maran Gas Asclepius.

The company pioneered commercial LNG ship-to-ship transfers in 2007. The Moheshkhali Floating LNG terminal, operational since 2018, plays a important role in Bangladesh's energy security with a capacity of up to 600 million standard cubic feet of gas per day, supporting industrial development and job creation in the region.

Positive

• Achieved milestone 3,000th LNG ship-to-ship transfer, demonstrating operational excellence
• Maintains significant presence in Bangladesh's energy infrastructure through MLNG terminal
• MLNG terminal operates with substantial capacity of 600 million standard cubic feet of gas per day

Negative

• None.

Insights

Energy Infrastructure Expert

<p>The completion of <b>3,000 LNG ship-to-ship transfers</b> represents a significant operational milestone in the LNG infrastructure sector. This achievement at Bangladesh's MLNG terminal demonstrates Excelerate's dominance in floating LNG solutions, particularly in emerging markets where traditional pipeline infrastructure is The consistent execution of these complex operations since 2007 has established a robust track record that strengthens Excelerate's competitive moat in the FSRU market.</p><p>The MLNG terminal's <b>600 million standard cubic feet per day</b> capacity is strategically important for Bangladesh's energy security and industrial development. This operational milestone reinforces Excelerate's market position as the leading FSRU operator globally, potentially leading to increased contract opportunities in other emerging markets seeking similar energy security solutions.</p>

Maritime Operations Analyst

<p>The achievement of 3,000 STS operations without major incidents demonstrates exceptional operational efficiency and risk management in maritime LNG transfers. This track record is particularly valuable in an industry where safety and reliability are paramount. The consistent execution over 17 years has helped establish industry standards for LNG ship-to-ship transfers, positioning Excelerate as the benchmark for operational excellence.</p><p>The successful operation at the Bangladesh MLNG terminal showcases Excelerate's ability to maintain high operational standards in challenging environments. This operational expertise creates significant barriers to entry for competitors and strengthens the company's position in contract negotiations for future FSRU projects.</p>

THE WOODLANDS, Texas--(BUSINESS WIRE)-- Excelerate Energy, Inc. (NYSE: EE) (the “Company” or “Excelerate”) today announced that on December 28, 2024, the Company safely completed its 3,000^th LNG ship-to-ship (STS) operation since the start of STS operations in 2007. The milestone was achieved onboard Excelerate’s floating storage and regasification unit (FSRU) Excellence which received a cargo delivery from Maran Gas Maritime Inc.’s liquified natural gas (LNG) carrier, the Maran Gas Asclepius, at the Moheshkhali Floating LNG (MLNG) terminal in Bangladesh.

Excelerate Energy's FSRU Excellence receives a cargo delivery from the Maran Gas Asclepius at the Moheshkhali Floating LNG terminal in Bangladesh on December 28, 2024, marking the safe completion of Excelerate's 3,000th LNG ship-to-ship transfer operation. (Photo: Business Wire)

“This milestone is a testament to our unwavering commitment to safety, reliability, and innovation in the LNG industry. It is not just a number. It symbolizes years of relentless effort, continuous improvement, and the highest standards of operational excellence,” said David Liner, Executive Vice President and Chief Operating Officer. “Since pioneering the commercial ship-to-ship transfer of LNG in 2007, we have continued to shape the industry while safely and reliably bringing energy to those who need it. We extend our deepest gratitude to our partners, clients, and every member of the Excelerate Energy team for making this accomplishment possible.”

Since 2018, the MLNG terminal has played a vital role in ensuring the energy security of Bangladesh. With a capacity of up to 600 million standard cubic feet of gas per day, MLNG provides a reliable source of energy supporting industrial development and job creation in a more sustainable manner.

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 an 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 a presence in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, London, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250106574794/en/

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 milestone did Excelerate Energy (EE) achieve in December 2024?

Excelerate Energy completed its 3,000th LNG ship-to-ship transfer operation on December 28, 2024, at the Moheshkhali Floating LNG terminal in Bangladesh.

What is the daily capacity of Excelerate Energy's (EE) MLNG terminal in Bangladesh?

The Moheshkhali Floating LNG terminal has a capacity of up to 600 million standard cubic feet of gas per day.

When did Excelerate Energy (EE) begin its LNG ship-to-ship operations?

Excelerate Energy pioneered commercial ship-to-ship transfer of LNG in 2007.

When did Excelerate Energy's (EE) Moheshkhali Floating LNG terminal begin operations?

The Moheshkhali Floating LNG (MLNG) terminal has been operational since 2018.