THE WOODLANDS, Texas, (January 29, 2024) — Excelerate Energy, Inc. (NYSE: EE) (the Company or Excelerate) and QatarEnergy announced today the execution of a 15-year liquefied natural gas (“LNG”) Sale and Purchase agreement (“SPA”). Under the SPA, Excelerate has agreed to purchase up to 1.0 million tonnes per annum (“MTPA”) of LNG from QatarEnergy on a delivered ex-ship basis in Bangladesh for 15 years, beginning January 2026. Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027 and 1.0 MTPA from 2028 to 2040.
“This inaugural long term supply agreement with the world’s largest LNG supplier marks a new milestone in our collaboration with QatarEnergy. Qatar delivers approximately 10 percent of its current annual LNG production through Excelerate FSRUs and we are pleased to unlock further new demand in the markets where we operate,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand, while driving stable, long-term economic uplift on our existing infrastructure.”
Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to sign this agreement with Excelerate for the supply of up to one million tons per annum of LNG to Bangladesh. This new agreement will further strengthen our relationship with Excelerate while also supporting the energy requirements of the People’s Republic of Bangladesh and its stride towards greater economic development.”
As a leading provider of flexible LNG infrastructure and integrated solutions, Excelerate Energy is helping to enhance energy security for countries around the world, while supporting their transition to a clean energy future.
About Excelerate Energy:
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit www.excelerateenergy.com.
Stephen Pettibone / Frances Jeter