HOUSTON, TEXAS – Excelerate Energy today announced it has entered into a revaporized LNG off-take purchase arrangement with DB Energy Trading LLC, a subsidiary of Deutsche Bank AG. The agreement entitles DB Energy Trading to sell Excelerate Energy’s revaporized LNG delivered via Excelerate’s specially designed Energy Bridge System at the Gulf Gateway Deepwater Port (Gulf Gateway) and the Northeast Gateway Deepwater Port (Northeast Gateway) for an undisclosed tenor. The Energy Bridge vessels vaporize LNG on board and deliver natural gas through specially designed subsea buoys to seabed pipelines and into the natural gas grid.
Gulf Gateway is located off the coast of Louisiana and is capable of delivering natural gas at a baseload rate of 500 MMcf/d, with peak rates of up to 690 MMcf/d. Its robust design, which was tested and proven with deliveries throughout Hurricane Katrina, provides reliable and ready access to United States markets on both a short- and long-term basis. Northeast Gateway, located off the coast of Massachusetts, recently completed construction and will take its first cargo deliveries in early 2008. Its physical infrastructure will accommodate peak sendout of up to 800 MMcf/d and a baseload rate over 400 MMcf/d. Both Gateways will have the ability to increase throughput as future generations of Energy Bridge vessels with increased regasification capacity are delivered.
“We are pleased to be working with DB Energy on the downstream marketing of our natural gas deliveries through Gulf Gateway and Northeast Gateway,” said Jonathan Cook, Chief Operating Officer at Excelerate Energy. “DB Trading has the experience and expertise that will ensure efficient and effective deliveries of our cargoes.”
“We are proud to partner with Excelerate for our first LNG off-take management agreement in the United States, and pleased to facilitate Excelerate supply to our growing customer base in the Northeast and Gulf Coast regions,” said Nicole Jasper, Americas Head of Commodity Sales at Deutsche Bank in Houston. “Our participation in the physical commodities markets marks our global commitment to providing Deutsche Bank clients the full spectrum of products.”