Excelerate Energy, a U.S.-based liquefied natural gas (LNG) and power infrastructure company headquartered in Texas, has secured a new assignment for its newbuild floating storage regasification unit (FSRU) at an LNG terminal in Jordan.
Excelerate has executed a nine-month time charter party agreement with Jordan’s National Electric Power Company (NEPCO) to deploy the FSRU Excelerate Acadia to the country’s existing LNG terminal in Aqaba. This unit was named a few weeks ago at Hyundai Heavy Industries’ shipyard in South Korea. The FSRU is expected to begin operations in mid-2026.
The interim deployment is perceived to enhance Jordan’s energy security by providing additional regasification capacity, generating incremental earnings for the U.S. firm, while it continues to advance Iraq’s first integrated LNG import terminal for which it signed a definitive commercial agreement in October 2025 with a subsidiary of the country’s Ministry of Electricity.
The integrated project includes a five-year agreement for regasification services and LNG supply, with extension options, and a minimum contracted offtake of 250 million standard cubic feet per day. Excelerate elaborates that jetty reinforcement and construction of the fixed terminal infrastructure have been temporarily delayed due to the conflict in the Middle East.
As a result, the terminal is no longer expected to start operations in the third quarter of 2026 as previously disclosed, since the project startup is now anticipated in 2027. The long-term fundamentals supporting the project are said to remain unchanged, driven by chronic power shortages and limited domestic gas processing capacity in Iraq.
The current conditions are perceived to further reinforce the country’s need for reliable and scalable LNG import infrastructure; thus, construction will resume as conditions allow.
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Excelerate underlines that its terminal services operations performed as expected during the first quarter of 2026, supported by long-term, high-quality contracts, with the Explorer and Express FSRUs remaining fully operational in the UAE, with crews safe and assets operating reliably in support of Dubai, Abu Dhabi, and the broader region as part of the country’s energy security infrastructure.
After the company received a force majeure notice in March 2026 from QatarEnergy in connection with its long-term LNG supply agreement due to the conflict in the Middle East, the U.S. player issued a corresponding notice to Petrobangla under its long-term supply agreement.
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“The transactions are structured on a back-to-back basis, with delivery obligations aligned to supply commitments and supported by contractual force majeure protections,” underlined Excelerate.