FSRU Excelerate Sequoia

Excelerate takes delivery of tenth FSRU

US floating LNG player Excelerate Energy has recently taken delivery of its tenth floating storage and regasification unit from South Korea’s Daewoo Shipbuilding and Marine Engineering.

Excelerate Sequoia
FSRU Excelerate Sequoia
Excelerate Sequoia (Image: Excelerate Energy)

Excelerate Sequoia has a storage capacity of 173,400 cubic meters and is capable of operating both as an FSRU and a fully tradable LNG carrier.

The US company and Greece’s Maran Gas Maritime signed a five-year bareboat charter deal for the vessel in September last year.

Under the deal, Excelerate will have the option to buy the FSRU during the five-year charter.

The vessel completed its first gas-up and cool-down operations at Posco Energy’s Gwangyang LNG terminal in Jeonnam on June 21.

The facility is Korea’s first private LNG terminal. It has carried out gas-trial and gas-up/cool-gown operations for more than 150 vessels since 2005.

Gas-up is one of the mandatory procedures for LNG carriers prior to making the vessels commercially ready to receive cargoes.

Excelerate Sequoia joins the US company’s existing fleet of nine FSRUs, all built by Daewoo.

Excelerate Technical Management, a wholly-owned unit of Excelerate, will provide ship management for the newbuild.