Excelerate lines up seven FSRUs at DSME

Excelerate lines up seven FSRUs at DSME
DSME CEO Sung Leep Jung (left) and Excelerate CEO Rob Bryngelson (right) signing agreement (Image courtesy of Excelerate Energy)

Excelerate Energy executed a letter of intent with Daewoo Shipbuilding and Marine Engineering (DSME) of South Korea for the delivery of up to seven FSRUs.

Under the LOI, Excelerate has the option to order one FSRU in the second quarter of 2017.

Through the execution of the agreement, Excelerate is looking to be able to respond to the market demand for natural gas as its existing fleet of nine FSRUs become committed to long-term projects.

The initial specifications are for 173,400-cbm LNG FSRUs with a baseload send-out capacity of 1.0 Bcf/d.

Excelerate has already partnered with DSME on its existing fleet of FSRUs, including the industry’s first regasification vessel the Excelsior.

So far Excelerate has developed and commissioned ten floating LNG import facilities worldwide, with two currently in advanced stages of development in Bangladesh and Puerto Rico.

The company’s project development portfolio will be supported by the additional vessels in combination with the company’s FSRU conversion strategy.

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