Expanded portfolio will provide more access to natural gas around the globe.
The Woodlands, Texas – 23 June 2020
On June 10, 2020, Excelerate Energy L.P. (Excelerate) took delivery of its tenth floating storage regasification unit (FSRU) the Excelerate Sequoia from Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea.
The vessel has a storage capacity of 173,400 cubic meters and is capable of operating as both an FSRU and a fully tradable LNG carrier.
In September of last year, Excelerate and Maran Gas Maritime Inc. (MGM) signed a five-year bareboat charter agreement (BBC) for the FSRU. Excelerate will have the option to purchase the Excelerate Sequoia during the five-year BBC.
Image by Excelerate Energy L.P.
The vessel completed its first gas-up and cool-down operations at POSCO Energy’s Gwangyang LNG Terminal in Jeonnam, South Korea on June 21, 2020. The terminal is Korea’s first private LNG terminal and has carried out gas-trial and gas-up/cool-gown operations for more than 150 vessels since 2005. Gas-up is one of the mandatory procedures an LNG carrier must perform to make the vessel commercially ready to receive LNG cargoes.
Excelerate Sequoia joins Excelerate’s existing fleet of nine FSRUs, all built by DSME. Excelerate Technical Management, a wholly-owned subsidiary of Excelerate, will provide ship management for the vessel.
Excelerate Energy L.P. press release