March 22, 2011
The Woodlands, TX – Excelerate Energy L.P. (Excelerate Energy) is continuing its commitment to bringing innovative offshore liquefied natural gas (LNG) solutions by formally developing partnership and project opportunities in floating liquefaction of natural gas. With the increasing global demand for energy and timely, cost-effective solutions, Excelerate Energy has been developing the Energy Bridge Liquefaction Vessel (EBLV®) floating liquefaction solution since 2007 and is targeting to have the first vessel in service in the 2014 to 2015 time frame. The EBLV leverages the company’s proven experience and expertise from its highly successful Energy Bridge Regasification Vessel (EBRV®) floating LNG regasification solutions.
To advance its efforts, Excelerate Energy has formed Excelerate Liquefaction Solutions (ELS) a subsidiary company focused on the development of floating liquefaction projects worldwide. At present, ELS is progressing discussions with potential partners, investors, natural gas producers, and reserve owners in order to advance specific projects. “We’re taking a pragmatic approach towards the pursuit of liquefaction projects. With the scope and scale of investment required, it’s better to be right than first,” noted Edward Scott, Excelerate Energy Senior Vice President of Development.
Working in partnership with Samsung Heavy Industries for hull design and integration, Black & Veatch for liquefaction technology, and Exmar for technical management services, Excelerate Energy completed its front-end engineering design (FEED) program for a three million tonne per annum (mtpa) liquefaction vessel design in 2010. The focus of this effort was to confirm project viability, design decisions, and costs ahead of advancing project opportunities. As a result, Excelerate Energy is confident in its ability to deliver a floating liquefaction solution at a fraction of the cost of a conventional land-based facility.
“Floating liquefaction through the EBLV design will allow Excelerate Energy to further capitalize on its unique experience as a market leader in offshore LNG solutions,” said Rob Bryngelson, Excelerate Energy President and CEO. “This technology has the potential to be a considerable growth driver for the company, and to provide more direct access to LNG for our global trading and regasification activities,” he added.
Excelerate Energy applies the same philosophy to its liquefaction vessel design as it does to its regasification vessel fleet – essentially using proven technology in an innovative way to provide more efficient and timely solutions to the LNG industry.