Excelerate Energy Announces Agreement To Deliver Four Cargoes into Argentina’s Winter LNG Import Facility

Bahia Blanca Facility Enters its Third Year of Operations

March 31, 2010

BUENOS AIRES, ARGENTINA,  – Excelerate Energy L.P. today announced the sale of four cargoes of liquefied natural gas (LNG) to be delivered into Argentina’s first LNG importation facility located in the port city of Bahia Blanca, approximately 400 miles south of Buenos Aires. Excelerate Energy will deliver the cargoes from its own fleet of purpose-built floating storage and regasification units (FSRUs).

Argentina’s State-owned utility company ENARSA issued two tenders in March, 2010, seeking a total of 14 cargoes of LNG for delivery in 2010. The first tender was for 12 cargoes and the second one for two cargoes. Excelerate Energy’s four cargo agreement is being supplied from their own trading portfolio. Excelerate will start delivering these cargoes in April and will deliver the last cargo in July.

“Excelerate Energy considers the four cargo agreement from these two tenders a significant achievement for the company,” said Andree Stracke, CCO of Excelerate Energy.

Jointly-developed with YPF, Bahia Blanca GasPort® was the fourth of Excelerate’s five LNG facilities and second of three dockside GasPorts. The facility is capable of delivering up to 400 million cubic feet of natural gas per day to Argentina’s market. Each of the four LNG cargoes to be delivered contains an equivalent of approximately three billion cubic feet of natural gas. The Bahia Blanca GasPort will begin its third year of service with the delivery of these cargoes during Argentina’s high demand winter season.

At the Bahia Blanca GasPort, one of the company’s FSRUs will dock alongside a dedicated jetty where it will connect to the onshore facility, and feed regasified natural gas directly into Argentina’s gas distribution system. The LNG cargoes will be supplied to the docked FSRU utilizing ship-to-ship transfer procedures.

Excelerate Energy’s specialized vessels are equipped with both an onboard regasification system as well as normal LNG discharge capability, enabling the vessels to offload at conventional LNG terminals, their own facilities and from ship to ship. Excelerate Energy pioneered LNG transshipment via ship-to-ship transfer.



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