Excelerate Energy charter out FRSU Excelsior for 5 years to German Government

Photo credit: Excelerate Energy

The U.S. based company Excelerate Energy, Inc. and the Government of the Federal Republic of Germany yesterday in Berlin signed a five-year contract to charter the floating storage and regasification unit (FSRU) Excelsior to help provide energy security and supply diversification to Germany.

The deployment of the Excelsior to Germany is an attempt to strengthen the energy security at a time when traditional energy sources have proven unreliable, as the Chief Executive and President of Excelerate, Steven Kobos said.

The FSRU Excelsior will go on charter in the first quarter of 2023, and the Federal Republic of Germany intends to deploy the vessel in the Port of Wilhelmshaven which will be Germany’s fifth FSRU import terminal, as it was mentioned. The Excelsior, which has an LNG storage capacity of 138,000 m3 and send-out capacity of 5 billion cubic metres per year, will first go to drydock at the end of 2022 for scheduled maintenance prior to its deployment to Germany.

Excelerate’s President and CEO Steven Kobos said that “FSRUs have the ability to offer flexible access to greater supply diversification and can serve as a complementary backstop for the rapid scaling of green energy projects. These benefits are consistent with the stated goals of the U.S. and EU Task Force on Energy Security.”

Source: Excelerate Energy

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