Excelerate Energy and the German Government Sign FSRU Charter Agreement

Excelerate Energy, Inc. (NYSE: EE) (“Excelerate”) and the Government of the Federal Republic of Germany signed a five-year contract today in Berlin to charter the floating storage and regasification unit (FSRU) Excelsior to help provide energy security and supply diversification to Germany while supporting the country’s transition to renewable energy.

Excelerate’s President and CEO Steven Kobos and Dr. Patrick Graichen, State Secretary at the Federal Ministry for Economic Affairs and Climate Action (BMWK), signed the contract at BMWK headquarters in a ceremony also attended by Woodward Clark Price, Chargé d’Affaires of the United States Embassy in Berlin.

“The deployment of the FSRU Excelsior to Germany demonstrates our commitment to strengthening energy security at a time when traditional energy sources have proven unreliable,” said Steven Kobos, President and CEO of Excelerate. “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.-EU Task Force on Energy Security.”

BMWK previously announced that a consortium including Tree Energy Solutions, E.ON, and Engie would jointly develop and implement Germany’s fifth FSRU import terminal using an Excelerate vessel. The FSRU will accelerate the development of TES’ green hydrogen terminal at Wilhelmshaven.

Under the terms of the agreement, the FSRU Excelsior will go on charter in the first quarter of 2023. The Federal Republic of Germany intends to deploy the vessel in the Port of Wilhelmshaven. The Excelsior, which has an LNG storage capacity of 138,000 m3 and send-out capacity of 5 bcm/y, will go to drydock at the end of 2022 for scheduled maintenance prior to its deployment to Germany.