United States Grants Excelerate Energy Permission to Export LNG
THE WOODLANDS, Texas, Aug. 13, 2012 /PRNewswire/ — The United States Department of Energy has granted Excelerate Energy a long-term, multi-contract authorization to export liquefied natural gas (LNG) to free trade agreement (FTA) nations from its Lavaca Bay LNG project, currently under development. The company will be authorized to export up to 10 million metric tons per annum (mtpa) of LNG produced from domestic resources for a 20-year term commencing on the date of its first export.
Located on the Texas Gulf Coast, Lavaca Bay LNG will be the first floating liquefaction export facility in the United States and will utilize Excelerate’s Floating Liquefaction Storage Offloading vessel (FLSO(TM)) technology. The facility will require authorization from the Federal Energy Regulatory Commission (FERC). Excelerate will begin the FERC pre-filing process fourth quarter 2012 and expects the facility to be in-service in 2017.
ABOUT EXCELERATE ENERGY®
Excelerate Energy L.P. is a developer of LNG transportation and regasification infrastructure, a provider of LNG storage and regasification services, an importer of LNG and it recently entered into LNG production. Today, Excelerate Energy leads the industry in the development of innovative, flexible and less capital intensive floating LNG import solutions based on its dockside (GasPort®) and offshore (Gateway(TM)) Energy Bridge shipboard regasification technology. The company also operates as a global LNG Marketing and Trading organization active in the short-term market. Headquartered in The Woodlands, Texas, Excelerate has an established presence in London, Dubai, Kuwait City, Buenos Aires, and Rio de Janeiro. For more information, please visit www.excelerateenergy.com (http://www.excelerateenergy.com)
SOURCE Excelerate Energy L.P.