Excelerate Energy Names Its New FSRU at Daewoo Shipyard

Excelerate Energy celebrated the naming ceremony for its newest floating storage and regasification unit (FSRU) “Experience” at Daewoo Shipbuilding & Marine Engineering’s (DSME) Okpo Shipyard, Korea, on March 20, 2014.

The Experience, constructed to provide long-term service for Brazil’s Petrobras, is the largest and most capable FSRU in the world with a storage capacity of 173,400 cubic meters and sendout capability of 1 billion cubic feet per day. The vessel is the ninth in Excelerate Energy’s fleet of FSRUs, making the company the industry’s largest operator of regasification vessels.

“Excelerate Energy is pleased to celebrate this special occasion with DSME and Petrobras. We have had a longstanding relationship with DSME, and they have proven to be a highly reliable partner in helping us deliver solutions for floating regasification. We have also forged a strong relationship with Petrobras and appreciate the faith they have placed in us to deliver this critical piece of energy infrastructure,” stated Rob Bryngelson, President and CEO of Excelerate Energy, “With this being our ninth regasification vessel, we felt the name ‘Experience’ was appropriate given our proven track-record in the FSRU market.”

The Experience completed successful gas trials in early March and will be delivered to Petrobras in mid-May for service at its Guanabara Bay facility. The vessel will be capable of operating as both an FSRU and a fully tradable LNG carrier. Excelerate has been providing bridging services to Petrobras since the end of 2012 by supplying the company with one of its existing FSRUs while the Experience was being constructed.

Excelerate Energy, March 27, 2014