U.S.-based LNG company Excelerate Energy has received an official award letter from the government of Iraq to develop an integrated floating liquefied natural gas (LNG) import terminal.
The Woodlands, Texas, company said the proposed terminal will allow Iraq to import LNG to support domestic power generation, stabilize the national grid and diversify from unreliable natural gas supply sources.
The development of the integrated floating import terminal will be led by Excelerate in coordination with the Iraqi government.
The move has the backing of Iraq’s Prime Minister Mohammed Shia’ al-Sudani. Deputy Prime Minister and Foreign Minister Fuad Hussein congratulated Excelerate president and CEO Steven Kobos during a meeting on September 25 on the margins of the 80th United Nations General Assembly in New York City.
The U.S. Department of State’s Thomas Lersten, senior official to the office of the under secretary for economic growth, energy, and the environment, also attended the meeting and underscored the strategic importance of U.S. LNG to the administration’s energy dominance agenda.
The award letter is a preliminary step, and development of the terminal remains subject to the successful negotiation and execution of binding commercial agreements, Excelerate said, which is actively engaged with Iraqi authorities to finalize the necessary contracts.
“This award is a testament to the strategic partnership between Excelerate Energy and the Government of Iraq,” said Steven Kobos. “We are honored to be selected for this critical infrastructure project and look forward to working closely with Iraqi leadership to bring it to fruition.”
Excelerate offers a full range of flexible regasification services from floating LNG terminals to infrastructure development to LNG supply and power generation.
