Excelerate Takes New LNG Vessel
US shipping firm Excelerate Energy took delivery of its tenth LNG floating storage regasification unit (FSRU) the Excelerate Sequoia June 10, it said June 23, a few days after the vessel completed its first gas-up and cool-down operation at Posco's privately-owned Jeonnam terminal in South Korea.
Built by Korean Daewoo Shipbuilding and Marine Engineering — as were the previous nine – the vessel has a storage capacity of 173,400 m³ and is capable of operating as both an FSRU and a fully tradable LNG carrier. In September of last year, Excelerate and Maran Gas Maritime signed a five-year bareboat charter agreement for it and Excelerate will have the option to purchase the Excelerate Sequoia during that period.
"We are pleased to have the Excelerate Sequoia in our fleet to serve our portfolio of regasification customers," said Excelerate's CEO Steven Kobos. "Since the delivery of the industry's first FSRU in 2005, our technology has allowed us to quickly and reliably open new natural gas markets around the world. We have seen firsthand the difference our floating regasification terminals have made in communities who would have otherwise been locked out. We will continue to deliver affordable, clean energy to markets that need it."