Excelerate Energy Buys FSRU from Anemoesa Marine for $265m

Photo credit: Excelerate Energy

US-listed Excelerate Energy has been active with the purchase of the FSRU Sequoia, while its FSRU Excelsior commenced its charter hire with the Federal Republic of Germany.

In April, the New York Stock Exchange-listed company completed the purchase of the FSRU Sequoia from Anemoesa Marine for $265 million.

Proceeds from Excelerate’s $250 million term loan and $15 million of cash on hand were used to purchase the Sequoia.

Prior to this purchase, Excelerate leased the FSRU Sequoia on a five-year bareboat charter from Anemoesa, which began in June 2020.

In February 2023, the company’s FSRU Excelsior commenced its charter hire with the German Government, in a five-year charter deal signed in October 2022.

The Germany charter has been placed on a temporary suspension agreement while the FSRU Excelsior is deployed to provide seasonal regasification service at the Bahia Blanca GasPort terminal in Argentina.

The FSRU Excelsior will return to the Germany charter in the third quarter of 2023.

Meanwhile, during the quarter, the company closed on a $600 million amended and restated senior secured credit facility, consisting of a $350 million revolving credit facility and a $250 million term loan.

“More recently, we completed the purchase of the FSRU Sequoia for $265 million. This transaction cemented the Sequoia as an integral part of both our FSRU fleet and our growth strategy over the long term. Together, these transactions improved our financial strength and have positioned us well to pursue new commercial opportunities,” said President and Chief Executive Officer Steven Kobos.

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