Excelerate shrinks LNG trading staff as part of reorganization

Texas-based LNG player Excelerate Energy said it reduced the size of its commercial trading and chartering team as part of a reorganization.

The reorganization, made due to the near full commitment of Excelerate’s fleet to long-term projects, resulted in the elimination of six positions, a spokeswoman at the company told LNG World News in an e-mailed statement late Monday.

However, despite reducing the size of its trading and chartering team, Excelerate will continue to be active in those areas, the spokeswoman said.

Excelerate currently operates a fleet of 9 floating storage and regasification units (FSRUs), the largest in the industry, according to the company’s website.

“As the scale and nature of our regasification projects grow, we see increasing opportunities for different types of integrated LNG solutions. To that end, we believe that our commercial trading and chartering activities are best structured to support and complement our regasification business, and have reorganized the commercial trading and chartering team to better align with our overall business development strategy,” the spokeswoman said.