Excelerate Energy Signs 15-Year LNG Supply Deal with QatarEnergy

Excelerate Energy, Inc. (NYSE: EE) (the Company or Excelerate) and QatarEnergy announced today the execution of a 15-year liquefied natural gas (“LNG”) Sales and Purchase agreement (“SPA”). Under the SPA, Excelerate has agreed to purchase up to 1.0 million tonnes per annum (“MTPA”) of LNG from QatarEnergy on a delivered ex-ship basis in Bangladesh for 15 years, beginning January 2026. Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027 and 1.0 MTPA from 2028 to 2040.

“This inaugural long term supply agreement with the world’s largest LNG supplier marks a new milestone in our collaboration with QatarEnergy. Qatar delivers approximately 10 percent of its current annual LNG production through Excelerate FSRUs and we are pleased to unlock further new demand in the markets where we operate,” said Steven Kobos, President and Chief Executive Officer of Excelerate. “This agreement highlights our ability to secure critical and affordable LNG volumes for our customers with increasing natural gas demand, while driving stable, long-term economic uplift on our existing infrastructure.”

Commenting on this occasion, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President and CEO of QatarEnergy, said: “We are pleased to sign this agreement with Excelerate for the supply of up to one million tons per annum of LNG to Bangladesh. This new agreement will further strengthen our relationship with Excelerate while also supporting the energy requirements of the People’s Republic of Bangladesh and its stride towards greater economic development.”

As a leading provider of flexible LNG infrastructure and integrated solutions, Excelerate Energy is helping to enhance energy security for countries around the world, while supporting their transition to a clean energy future.

Wison New Energies Spearheads the Design validation and Pre-FEED for two 3MTPA FLNG Projects in Nigeria

The Design validation and Pre-FEED phase for two 3MTPA FLNG Projects of Ace Gas and FLNG (“ACE”), and Transoceanic Gas and Power （“Transoceanic”）officially commences. In this project, Wison New Energies is entrusted with the FLNG design and EPC. The contract has been successfully signed, and mobilization funds have been disbursed for this phase of the project.

The agreement is to provide the design validation and engineering studies for the design of a 3MPTA facility to support the "design one and build two strategies "to be applied across Ace and Transoceanic projects in offshore Escravos and offshore Pennington respectively. The FLNG will produce, store and offload 3MPTA LNG and associated LPG and condensates for transport to market.

Commenting on the milestone, Mr. Chris Nwokolo - Group CEO from Ace Gas and FLNG said "We’re excited about the collaboration with Wison New Energies. We thank our team, partners and the government for their efforts and support in ensuring this project becomes a reality.”

Mr. Fan Jian, Country Manager of Nigeria from Wison New Energies, remarked “Wison is excited to see the project has been officially entering into the pre-FEED stage. We’re confident that our FLNG EPCIC experience will guarantee a successful and efficient delivery. We are excited about advancing to the next stage in the near future.”

EQT Announces Tolling Agreement with Texas LNG

EQT Corporation (NYSE: EQT) ("EQT" or the "Company") today announced it has entered into a Heads of Agreement ("HOA") for liquefaction services from Texas LNG's facility in Brownsville, Texas to produce 0.5 million tons per annum of LNG under a 15-year tolling agreement. Final terms remain subject to negotiation of a definitive agreement between the parties. Texas LNG, a subsidiary of Glenfarne Energy Transition, LLC, anticipates a final investment decision on the project in 2024, with first cargo deliveries expected in 2028.

Toby Z. Rice, President and CEO, said, "This HOA with Texas LNG highlights continued momentum behind EQT's differentiated LNG strategy, which is focused on achieving the best combination of upside exposure and downside risk mitigation. Our tolling capacity gives us direct connectivity to end users of natural gas globally, allowing for end-market structuring flexibility and superior downside protection."

Rice continued, "EQT's low-cost structure, peer-leading core inventory depth and environmental attributes uniquely position us to compete and win in the global energy arena and we believe the international market will increasingly covet our molecules as a long-duration secure supply source that can drive meaningful emissions reductions via coal displacement."

KN Becomes Commercial Manager of Four German LNG Terminals

International energy terminal operator KN (KN Energies AB starting 10th January 2024) is kicking off the year 2024 by securing the public tender for the commercial management of four German liquefied natural gas (LNG) terminals on the North Sea coast. The company has signed contract with Deutsche Energy Terminal GmbH (DET), the German state-owned company that operates state-controlled LNG terminals.

 
On behalf of the German Federal Ministry for Economics Affairs and Climate Action, the DET operates Germany's first LNG terminals on the North Sea coast, 

• the Wilhelmshaven 1 LNG Terminal 
• Brunsbüttel LNG Terminal. 

Additionally, DET will operate two upcoming terminals: 

• the second LNG terminal in Wilhelmshaven
• LNG terminal in Stade on the Lower Elbe River.

The two-year contract between KN and DET covers the commercial management of all four LNG terminals. Until now, KN already provided these services for the 1 Wilhelmshaven and Brunsbüttel LNG terminals, but after DET took over the management of these facilities, a new tender was launched for the consolidated commercial management of four LNG terminals.

In recent years Germany is rapidly embarking on the development of the construction of floating LNG terminals in order to provide new sources of supply for LNG following the failure of gas supplies via pipelines from Russia. The German Government is using the state-owned liquefied natural gas terminals to secure reliable energy supplies to the federal market. Germany is expected to have a total of five FSRU-based LNG import terminals within this year, four of which will be operated by DET.

According to the contract signed by KN and DET, commercial management services for the four LNG terminals will include managing commercial and logistics operations, gas dispatching processes, accounting and reporting of the commercial activities to the DET, development and provision of IT systems and tools and other terminal operational services adapted to the customer’s needs.

The contract also includes a commitment to capacity building and knowledge transfer of KN expertise to DET staff. During the term of the contract, the objective is to train the local team to be able to ensure the commercial operation of the terminals themselves.

Darius Šilenskis, CEO of KN, is confident that the success in securing the tender can be attributed to the experience already gained by KN in the German market.

“By providing commercial management services to two German LNG terminals, we have had the opportunity to demonstrate unique competences, expertise, professionalism, and the ability to meet customers' expectations in a qualitative and prompt manner," Mr. Šilenskis stated.

KN CEO emphasizes that assuming a more significant role in the German LNG terminal projects will enhance KN's position in the European LNG terminal market. The company consistently adheres to its strategic direction of being the first choice for customers involved in the development of LNG terminals worldwide.

Dr. Peter Röttgen, Managing Director of DET is satisfied with the result of the tender: “After our initial positive experience of working together with KN at our sites in Brunsbüttel and Wilhelmshaven, we are now looking forward to continuing this fruitful and professional collaboration for all DET sites.”

KN is an international energy terminal operator responsible for ensuring safe and reliable flows of liquid energy, loading of chemicals and raw materials for Baltic consumers, while also using the company’s knowledge and skills to assist clients around the world in developing sustainable energy infrastructure projects. The company currently operates three terminals for liquid energy products in Klaipėda, Subačius, and Marijampolė, and is also the operator of liquefied natural gas (LNG) terminals in Lithuania and Brazil. To date, the company has contributed to more than 10 different LNG projects around the world.

Cedar LNG awards EPC contract for state-of-the-art floating LNG production unit

The Haisla Nation and Pembina Pipeline Corporation (Pembina) (TSX: PPL) (NYSE: PBA), partners in the development of the proposed Cedar LNG Project (Cedar LNG), today announced Samsung Heavy Industries (SHI) and Black & Veatch have been selected to provide engineering, procurement and construction for the design, fabrication and delivery of the Project's floating LNG production unit (FLNG), subject to a Final Investment Decision (FID).

"This is a critical milestone on our path towards a FID for Cedar LNG, the first Indigenous majority-owned LNG project in the world," said Doug Arnell, Cedar LNG Chief Executive Officer. "We have secured world-class FLNG expertise and look forward to working with SHI and Black & Veatch to build an LNG facility with one of the cleanest environmental profiles in the world that will usher in a new era of low carbon, sustainable LNG production."

"Our role in helping Cedar LNG make history on this world-class facility aligns with our commitment to deliver a reliable and resilient global energy supply as a leader in the world's energy transition," said Mario Azar, Black & Veatch Chairman & Chief Executive Officer.

Cedar LNG now has major regulatory approvals, signed memorandums of understanding for long-term liquefaction services for the project's total LNG capacity, and with the achievement of this milestone, the Project is at an advanced stage of planning and development with a FID expected by the end of the first quarter 2024.

Subject to a positive FID, onshore construction work for the project could commence as early as the second quarter 2024, with the delivery of the FLNG and substantial completion expected in 2028.

Eni started the gas introduction into Tango FLNG facility, Republic of Congo

Eni announces the introduction of gas into the Tango Floating Liquefied Natural Gas (FLNG) facility moored in Congolese waters.

Gas introduction has been achieved in record time– only twelve months after the final investment decision. This is a key milestone for the Congo LNG project, which encompasses the adoption of new technologies and a strong synergy with existing producing assets. Following completion of the commissioning phase, Tango FLNG will produce its first LNG cargo by the first quarter of 2024, placing the Republic of Congo on the list of LNG-producing countries.

The Tango FLNG facility has a liquefaction capacity of about 1 billion cubic meters per year (BCMA) and is moored alongside the Excalibur Floating Storage Unit (FSU), using an innovative configuration called "split mooring," implemented here for the first time in a floating LNG terminal.

Congo LNG will enhance the gas resources of the Marine XII permit and achieve approximately 4.5 BCMA of plateau gas liquefaction capacity through phased development and with a target of zero routine gas flaring. A second FLNG facility with a capacity of about 3.5 BCMA is currently under construction and will begin production in 2025. The entire volume of LNG produced will be marketed by Eni.

Gastrade’s FSRU “ALEXANDROUPOLIS” arrived in Greece

Today, December 17th, 2023, the “ALEXANDROUPOLIS” entered the waters of the Thracian Sea of Greece. The floating, storage, and regasification unit “FSRU” sailed away from Singapore anchorage on November 26th and started her journey to her new home in Alexandroupolis, Greece after completing an almost 10-month conversion at the Seatrium shipyard. The FSRU’s arrival at its permanent berth largely marks the completion of construction of this flagship National and regional Project.

In the following days, the FSRU will be anchored through a spread 12-point mooring system. The FSRU will then be connected to the high-pressure subsea and onshore gas transmission pipeline, which, once operational, will deliver natural gas to the Greek Transmission System (“NNGTS”) and onwards to the final consumers in Greece, Bulgaria, Romania, North Macedonia, Serbia and further to Moldova and Ukraine to the East and Hungary and Slovakia to the West. The Terminal, upon completion of all testing activities, is planned to be commercially operational in the first quarter of 2024 and will have a maximum sustainable regasification capacity of 5.5 billion cubic meters a year.

The FSRU was named “ALEXANDROUPOLIS” in honor of the municipality and its citizens that embraced the Project from the beginning and will host the FSRU permanently in the Thracian Sea.

“Today, with the arrival of the first specially converted LNG Carrier of Gastrade, is for all of us an exceptional day”, highlights the Chairperson of the Board of Directors of the Company and Founding Shareholder Ms. Elmina Copelouzou.

“A day that signals the realization of the Floating Regasification Unit and paves the way to the commencement of the Alexandroupolis LNG project. A milestone for this borderland city which is set to become an energy hub for the entire Southeastern Europe” continues Ms. Copelouzou.

“Many contributed to reach this point today. We would like however to thank particularly the people and the authorities of Alexandroupolis who stood by us throughout these years. As a minimum recognition of their support, we named our FSRU “Alexandroupolis” ”.

“From my side, I would like to dedicate this day to my father, Dimitris Copelouzos, who can visualise now such an important project, that he envisioned and set on track 15 years ago, reaching the final stretch of its materialisation”, concludes Ms. Copelouzou.

“For Alexandroupolis, it is a major project that will boost the local economy and employment, but above all, it will redefine the city’s coordinates on the world map as a critical hub for the energy security of the entire Central and SE Europe” said the Managing Director of Gastrade Kostis Sifnaios. “At the same time, the Project will establish yet another important pillar of National Security for Thrace, since it is part of the international and European strategy for diversification and independence of energy sources and transport routes from the historical monopolies. For our country, it is a big step in consolidating and upgrading its leadership role in the wider northern region and demonstrates how energy can become a tool for prosperity, peace, and solidarity” adds Mr. Sifnaios.

The arrival of the FSRU “ALEXANDROUPOLIS” highlights a key milestone for the Project, for Greece, and for the wider region of Southeastern and Central Europe. The Terminal will be a new entry-point for natural gas, fostering regional cooperation, and enhancing security of supply. “This significant milestone has been achieved due to the cooperation and expertise of all the partners involved in the Project, the strong local support in Alexandroupolis and in Greece, and undoubtedly, the tenacious and hard work of the Gastrade team” concludes Mr. Sifnaios.