Excelerate snaps up Exmar’s stake in four FSRUs

Excelerate snaps up Exmar's stake in four FSRUs
Image courtesy of Excelerate Energy

Excelerate Energy closed the acquisition of Exmar’s shares in four floating storage and regasification units (FSRUs), the  Excelerate, Explorer, Express and Excelsior, all under long-term charters to Excelerate. 

Belgium’s Exmar, the Nicolas Savery-led shipowner, said on Thursday the sale and purchase of the first three FSRUs has been completed with the proceeds used to pay back the outstanding third-party loans.

The sale of Exmar’s shares in the fourth FSRU, the Excelsior is subject to approval by Teekay LNG, the partner in the joint venture owning the vessel, as well as by the lenders to the company.

The purchase allows Excelerate to consolidate its position in the FSRU market by optimizing its asset portfolio, while Exmar managed to reduce its debt position.

Exmar said in its statement the transaction will generate approximately $100 million of cash after debt repayment and a profit of approximately $90 million.

Exmar Shipmanagement, a unit of Exmar will continue to perform ship management services for all nine FSRUs owned by Excelerate Energy.

Share this article

Follow LNG World News


<< Dec 2018 >>
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Gas to Power APAC Congress 2019

The Gas to Power APAC Congress will bring together regional government officials and senior representatives from regulators…

read more >

Global LNG Forum 2019

Global LNG Forum is your opportunity to see what the future of LNG will be like…

read more >


LNG2019 is presented by the IGU, GTI and IIR, supported by the Shanghai Government and hosted by China LNG Association, China Gas Society, The Chinese Association of Refrigeration and China Gas Association.

read more >