Nov. 7, 2019

Excelerate Hosts the Bangla LNG Workshop 2019 – Best Practices for LNG Market and Infrastructure

DHAKA, Bangladesh, — Excelerate Energy L.P. (Excelerate) hosted the Bangla LNG Workshop 2019 on November 6 in Dhaka. The one-day event brought together over 120 industry leaders in the public and private sector to discuss the pertinent topics surrounding the global LNG industry and gas markets as they pertain to Bangladesh.

Last year, Bangladesh became the 39th country to join the LNG import marketplace through the delivery of the country’s first LNG import terminal, Moheshkhali Floating LNG (MLNG). The workshop focused on the critical role LNG, along with new natural gas infrastructure, will play in facilitating Bangladesh’s growing economy and its ever-rising demand for energy.

Among the distinguished guests that attended the event, the Honorable Energy Advisor to the Prime Minister Dr. Tawfiq-e-Elahi Chowdhury and the Deputy Chief of Mission (DCM) JoAnne Wagner of the United States Embassy Dhaka delivered keynote speeches.

Commenting on the first year of importing LNG, Dr. Chowdhury stated, “Sometimes if you want to make fast progress, gut and intuition must work. And those things make a difference in terms of speed.” He continued, “I am happy to say the supply has been consistent, and Excelerate has done a great job in a short period of time, and I keep saying this is a job we did together. I hope this continues.”

“We believe energy, and LNG in particular, is perhaps the most exciting [sector],” stated DCM Wagner. “We think that by developing a free and open natural gas market throughout the Indo-Pacific, the United States is absolutely committed to bolstering a resilient, reliable energy supply that can support stability and shared prosperity right here in Bangladesh.”

Bangladesh has astonished the world with its dramatic entry into the LNG market. To receive more than one percent of total global LNG production in the first 12 months of operations is truly a remarkable achievement,” stated Excelerate President and Managing Director Steven Kobos. “The Government of Bangladesh and Petrobangla have a lot to teach the rest of the world about how to put together a successful LNG import program.”

Also in attendance was the H.E. Ambassador Ahmed Mohammed Nasser Al-Dehaimi of the State of Qatar to the People’s Republic of Bangladesh and the H.E. Ambassador of the Republic of Korea Hu Kang-ild. Representatives from IFC, Qatargas, Atlantic Council, Boskalis, Cheniere, The Lantau Group, Mayer Brown, Poten & Partners, Royal HaskoningDHV, Siemens Bank, and Technica participated in the workshop.

In its first year of LNG imports, Bangladesh has successfully delivered 60 cargoes (equivalent to 3.6 million tons of LNG) imported from eight countries, providing over 180 million MMBtu of gas into the Chattogram region of the country. LNG imports represent a 15 percent uplift in gas supply for the country, allowing for several power plants, fertilizer factories, and industries that had previously been shut down due to a lack of feedstock, resume production.

30 September 2019

The Woodlands, Texas – Excelerate Energy L.P. (Excelerate) and Maran Gas Maritime Inc. (MGM) have signed a five-year bareboat charter agreement (BBC) for the floating storage regasification unit (FSRU) Hull 2477. During the five-year BBC Excelerate will have the option to purchase Hull 2477. MGM is currently building Hull 2477 at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and is scheduled for delivery in April 2020, when the BBC will start. The vessel will have a storage capacity of 173,400 m3 and will be capable of operating as both an FSRU and a fully tradable LNG carrier.

Hull 2477 will join Excelerate’s existing fleet of nine FSRUs, all built by DSME, and will serve Excelerate’s portfolio of regasification customers. Excelerate Technical Management, a wholly-owned subsidiary of Excelerate, will provide ship management for the vessel.

Excelerate’s owner George B. Kaiser stated, “We are pleased for Excelerate to enter into this transaction with MGM, a leading provider in LNG world shipping. MGM’s growing fleet is a testament to John Angelicoussis’ vision and commitment to the LNG industry.”

MGM’s owner John Angelicoussis stated, “We believe this transaction leverages the strengths of both our companies. Excelerate are market leaders in the FSRU space and we are delighted to have this opportunity to collaborate thereby securing a productive future for this state-of-the-art FSRU.”

Mr. Angelicoussis and Excelerate Managing Director and President Steven Kobos were present for the signing of the agreement.

Photo: From left to right, John Angelicoussis and Steven Kobos, Excelerate Managing Director and President.

September  26, 2019

The Woodlands, Texas – On September 20, 2019, Excelerate Energy L.P. (Excelerate) received the Notice to Proceed (NTP) from the Philippine Department of Energy (DOE) to develop a floating liquefied natural gas (LNG) import terminal in the Bay of Batangas per the DOE’s guidelines for “Rules and Regulation Governing the Philippine Natural Gas Industry.” The project, Luzon LNG, will supply natural gas, sourced from LNG, to existing and new gas-fired power plants in the region that provide electricity to Luzon including the area of Metro Manila. This abundant and secure source of gas supply will augment the existing gas production from the domestic Malampaya fields, as reserves from these fields begin to deplete.

“We are pleased to have received this significant approval from the Government of the Philippines in supporting the country’s long-term energy objectives – this is an important milestone to move the project forward,” stated Excelerate Energy Chief Commercial Officer Daniel Bustos. “We look forward to working with the government and private sector for the successful completion of the project that will enable Excelerate to invest in critical infrastructure allowing the country to continue on its current path of tremendous economic growth.”

The proposed project will be located offshore the city of Batangas to minimize the impact to the existing shipping traffic in the area and coastline. The terminal will utilize Excelerate’s state-of-the-art offshore technology specifically designed to perform in extreme weather conditions, like those of the Philippines, and has been proven at Excelerate’s operations in the Gulf of Mexico, the North Atlantic, Israel, and most recently, the Bay of Bengal.

“We commend the Government of the Philippines for requiring the structure of the project to include the challenging integration of LNG supply, technical procurement and implementation, and user agreements to the benefit of the country. Excelerate is the only company with the experience to deliver all that is required for this complex project – this will not be our first time,” continued Mr. Bustos. “We are in the unique position to offer the most industry experience to the Philippines to deliver a safe, efficient, and reliable project.”

Luzon LNG will combine all necessary elements to meet the region’s natural gas requirements including a fully-integrated turnkey floating LNG terminal, arranging the necessary supply of LNG and distribution of natural gas to end-users across Luzon. Excelerate will develop, design, permit, construct, finance, and operate the terminal.

Following the NTP, Excelerate will seek the necessary permits and raise financing for the project.

September, 24, 2019

Dhaka, Bangladesh On September 17, 2019, Excelerate Energy Bangladesh Limited (Excelerate) distributed over 1500 schoolbags and supplies to the students of Ghotibhanga Government Primary school located in the main fishermen’s village of Ghotibhanga in Moheshkhali, Bangladesh. The children ranged in age from Grades 1 to 8. This initiative is part of Excelerate’s ongoing community engagement and was aimed to promote education and to encourage local students to attend school regularly. Along with Excelerate representatives, local officials, school administration, and parents also participated in the program.

“A child can only succeed if they have the proper tools to do so,” stated Excelerate’s Managing Director Steven Kobos. “We are honored to support the communities in which we serve – especially when it comes to championing education and helping underserved students thrive in school. They, after all, represent the future of any community.”

In August, Excelerate distributed over 400 bags to the children of Dhalghatpara Primary School, also located in Moheshkhali.

“It was a real pleasure to see the excitement and happiness of all the kids after receiving the gifts,” stated Excelerate’s HSSE manager Adeeb Quader who helped present the school supplies. “We value our partnership with the community and local fishermen, and we look forward to more opportunities to support the families of this region.”

Last year, Excelerate began operations in the Moheshkhali region with its Moheshkhali Floating LNG (MLNG) terminal – Bangladesh’s first liquefied natural gas (LNG) import facility. The company also began operations at the Summit LNG terminal, owned by Summit LNG Terminal Co Ltd, in April. To date, Excelerate has successfully imported over 50 cargoes of LNG and delivered an excess of 150 million MMBtu of natural gas into the Bangladeshi market – representing an over 20 percent increase in gas supply during this period.

September 20, 2019

Port Qasim, Pakistan – Excelerate Energy L.P. (Excelerate) was honored to host Ambassador Paul W. Jones and a delegation from the U.S. Embassy in Pakistan at the Exquisite,  its LNG floating storage and regasification unit (FSRU) co-owned with Nakilat located at Port Qasim in Karachi.

The Exquisite currently fulfills as much as 15% of Pakistan’s domestic daily gas requirements. It is recognized in the industry as the most utilized FSRU worldwide and consistently sends gas into Pakistan’s network at levels above its guaranteed capacity. It has been stationed at Port Qasim since March 2015, under a 15-year lease with Engro Elengy Terminal. Last week, the Exquisite performed its 250th ship-to-ship transfer of LNG in Pakistan – an industry record for the shortest amount of time to achieve this milestone.

Excelerate Managing Director Steven Kobos said, “Excelerate is proud to stand at the intersection of U.S.–Pakistan cooperation in the energy sector,” adding that the company looks forward to expanding the Exquisite’s LNG import capacity to meet Pakistan’s growing gas demand in cooperation with the Government of Pakistan and Engro.

The U.S. Ambassador remarked, “It is very nice to see the great contribution being made by Engro and Excelerate Energy through LNG to uplift Pakistan by supplying cleaner and cheaper fuel to ensure homes and industries get the gas they need for day-to-day use and to fulfill industrial requirements.”

Among the distinguished guests, the Chairman of Port Qasim Authority, Rear Admiral (Retired) Syed Hasan Nasir Shah and the President of Engro, Ghias Khan were in attendance.

July 25, 2019

YPF and Excelerate execute an agreement for the transport of a new shipment of LNG to be completed in September.

BUENOS AIRES, Argentina – YPF announced today that a preliminary agreement was reached with Excelerate Energy L.P. (Excelerate) for the charter of a liquefied natural gas (LNG) carrier, which will export LNG produced from the TANGO FLNG unit, located in Bahía Blanca, to the global natural gas market.

Both parties will be executing the final agreement in the coming days, with the objective of starting operations the first week of September.

“We continue progressing in our ambition to add value to Argentine natural gas and to export surpluses during those months of low local consumption, to fully extract the potential as producer and exporter of Argentine natural gas,” said Marcos Browne, Executive Vice President of Gas and Energy of YPF.

Gabriela Aguilar, General Manager of Excelerate in Argentina, added, “It is a milestone for us to partner with YPF in this activity by contributing all of our industry know-how in the transportation of Argentine natural gas to the world.”

The natural gas, produced mainly from Vaca Muerta, will be processed by the TANGO FLNG unit at the “Mega” port in Bahía Blanca, and from there, it will be transported by the LNG carrier EXCALIBUR, which has a storage capacity of 138,000 m3. The loading of YPF’s product to the LNG carrier will be carried out through an operation that will last approximately 45 days.

The ship provided by Excelerate has proven experience in the main international LNG terminals, and as part of this agreement, will be in the service to YPF until May 2020. It will be one of two ships that YPF will utilize to transport Argentine LNG to the global market.

YPF commissioned its first cargo in May, achieving a historic milestone, becoming the first Argentine company to export LNG in its history.

 

Industry leader – Steven Kobos, Excelerate Energy

May 1, 2019

Bangladesh’s Second LNG Terminal Commissioned

DHAKA, BANGLADESH – The floating storage and regasification unit (FSRU) Summit LNG has begun operations at Summit LNG Terminal located offshore Moheshkhali Island in the Bay of Bengal. The FSRU successfully completed commissioning of the liquified natural gas (LNG) terminal, owned by Summit LNG Terminal Co Ltd (Summit), on April 29, 2019. The terminal has a send-out capacity of 500 million standard cubic feet per day (MMscf/d) of natural gas.

In August 2017, Summit entered into a 15-year charter agreement with Excelerate for the FSRU Summit LNG. In addition to providing the FSRU, Excelerate acted as the Owner’s Engineer for Summit in regard to the fixed infrastructure components of the terminal, which included a subsea plug, mooring system, and subsea pipeline.

“The successful completion of the Summit LNG Terminal represents a significant positive change to Bangladesh’s energy supply – helping bolster local industry while benefitting the citizens of the country,” stated Excelerate’s Managing Director Steven Kobos. “We are pleased to have partnered with Summit on this very important project and are confident our experience and expertise in FSRUs will ensure an efficient and reliable service for Bangladesh for the years to come.”

Founder Chairman of Summit Group Muhammed Aziz Khan remarked, “Summit is most pleased to receive the opportunity to provide much-needed RLNG (regasified liquified natural gas) to Bangladesh’s national gas grid. Excelerate‘s in-depth understanding and leadership in the FSRU market has contributed immensely to the implementation of this project. With this additional 500 MMscf/d to current 3,200 MMscf/d, Bangladesh will be able to provide necessary primary energy to Bangladesh. This natural gas will provide huge impetus to growth and development of Bangladesh. Summit will continue its endeavor to provide low cost environmentally friendly energy solutions to Bangladesh.”

In August 2018, Excelerate commissioned its Moheshkhali Floating LNG (MLNG) terminal – Bangladesh’s first LNG import facility. Since beginning operations, MLNG has successfully imported 27 cargoes of LNG and delivered in excess of 70 million MMBtus of natural gas into the Bangladeshi market, which represents an increase in gas supply of over 10% during this period.

Moheshkhali Floating LNG is Bangladesh’s first LNG import terminal – providing much needed natural gas to help fuel the country’s growing economy.

 

This winter, Excelerate Energy’s Northeast Gateway terminal has been helping New England prepare for the winter months by supplying natural gas to the region to help meet the increased energy demands of the extreme cold.

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