German utility group RWE has completed the acquisition of a 50% stake in the US-based liquefied natural gas company Excelerate Energy.

RWE Group has signed an agreement to acquire a 50% stake in the US-based liquefied natural gas business Excelerate Energy.

HOUSTON, Jan. 16 /PRNewswire/ -- Excelerate Energy today announced it has entered into a revaporized LNG off-take purchase arrangement with DB Energy Trading LLC, a subsidiary of Deutsche Bank AG.

German utility RWE is hoping to acquire a stake in US-based LNG importer Excelerate Energy, according to Thomson Financial, citing a company spokeswoman.

By KATE BOWMAN THE operator of Teesside Power Station has won a contract with a US energy firm hoping to build a 30m gas port on the River Tees.