An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Excelerate Energy Delivers FSRU Exemplar to Finland with Commissioning Cargo
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
Excelerate Energy (NYSE: EE) announced the arrival of its floating storage and regasification unit (FSRU) Exemplar at Inkoo, Finland, on December 28, 2022. The FSRU will provide regasified LNG to Finland and the Baltic region under a 10-year charter with Gasgrid Finland Oy. The Exemplar is capable of regasifying over 5 bcm/y of LNG. Additionally, Excelerate Finland, a newly formed subsidiary, has secured agreements for commissioning volumes, enhancing its market presence in the region.
Positive
Arrival of FSRU Exemplar enhances energy security in Finland.
Long-term 10-year charter with Gasgrid Finland for reliable LNG delivery.
Excelerate Finland's agreements for commissioning volumes boost market presence.
Negative
None.
THE WOODLANDS, Texas--(BUSINESS WIRE)--
Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) announced today that its floating storage and regasification unit (“FSRU”), the Exemplar, arrived at the port of Inkoo, Finland on December 28, 2022. The FSRU was previously loaded with a partial cargo of liquefied natural gas (LNG) which will serve as the initial commissioning cargo for the terminal. The FSRU Exemplar, which is chartered to Gasgrid Finland Oy (“Gasgrid”) for a period of ten years, will provide flexible, reliable, and secure delivery of regasified LNG to Finland and other Baltic countries.
FSRU Exemplar arrives in the port of Inkoo on 12/28/22 to begin 10-year charter providing regasified LNG to Finland and other Baltic countries. (Photo: Business Wire)
“The arrival of the FSRU Exemplar at the port of Inkoo represents an important milestone for Finland as it prepares to enhance its energy security and bring essential energy infrastructure to the region,” said Steven Kobos, President and CEO of Excelerate. “This is a tremendous accomplishment for everyone involved, and we are proud to have partnered with Gasgrid on this opportunity.”
In addition to providing regasification services under the Time Charter with Gasgrid, Excelerate, through its recently formed Finnish gas marketing subsidiary, Excelerate Finland Gas Marketing Oy (“Excelerate Finland”), has executed an agreement for the sale of commissioning volumes and regasification capacity rights during the commissioning phase. Through this agreement, Excelerate Finland will be able to provide natural gas to downstream customers in Finland and other Baltic countries.
The FSRU Exemplar departed drydock in Spain on December 6 where it underwent customer-requested winterization upgrades. The vessel subsequently procured its cargo from Excelerate’s global LNG portfolio via a ship-to-ship transfer with the FSRU Excelsior near Gibraltar. The Excelsior recently completed its 10-year service in Israel and will go on charter to the Federal Republic of Germany in 2023.
The FSRU Exemplar is 291 meters long and 43 meters wide. It has a storage capacity of 150,900 m3 of LNG and can provide more than 5 billion cubic meters per year (bcm/y) of regasification capacity.
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, Helsinki, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.
What is the significance of Exemplar's arrival in Finland for Excelerate Energy (EE)?
The arrival of Exemplar enhances energy security in Finland and establishes Excelerate as a key LNG supplier in the Baltic region.
How long is the charter for the FSRU Exemplar with Gasgrid Finland?
The FSRU Exemplar is chartered to Gasgrid Finland for a period of ten years.
What capacity does the FSRU Exemplar have for regasification?
The FSRU Exemplar can provide more than 5 billion cubic meters per year (bcm/y) of regasification capacity.
What role does Excelerate Finland play in this project?
Excelerate Finland, a new subsidiary, has secured agreements for commissioning volumes and regasification capacity rights to serve customers in Finland and the Baltic countries.
