Excelerate Energy contracts for eight more FSRU

Excelerate Energy, Houston, has signed a shipbuilding agreement with Daewoo Shipbuilding & Marine Engineering for delivery of as many as eight floating storage and regasification units (FSRU). The eight new vessels are to be delivered 2015-17.

Excelerate already operates a fleet of nine FSRU at various regasification terminals around the world.

The company has developed and commissioned six LNG import locations worldwide, with a seventh entering service off Israel in November, Excelerate spokesperson Denise Madera told OGJ. Italian marine contractor Micoperi is building the $140-million, 2.5 billion cu m/year LNG terminal about 6 miles off the Mediterranean city of Hadera.

An eighth FSRU is part of advanced development for a terminal in Puerto Rico.

Excelerate’s ninth FSRU is under construction at DSME’s Geoje Island shipyard in Okpo Bay on the southeastern tip of the Korean Peninsula and committed to the Petrobras VT3 regas project (OGJ Online, Aug. 29, 2011). The eight new FSRU will be modeled on this ninth vessel.

Initial options for each new vessel are for 173,400 cu m capacity, 294 m length, and 46 m width. It will be capable of a baseload sendout capacity of 800 MMcfd with peaking capacity of more than 950 MMcfd.

Under terms of the agreement with Daewoo, Excelerate has the option for smaller or larger capacity vessels, depending market demands. The new vessels will incorporate Excelerate Energy's Energy Bridge regasification technologies.

Contact Warren R. True at warrent@ogjonline.com.

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