US-based Excelerate Energy has taken delivery of Excelerate Sequoia from South Korea’s Daewoo Shipbuilding and Marine Engineering (DSME), expanding its fleet to 10 floating storage and regasification units (FSRUs)
Excelerate Sequoia, with a storage capacity of 173,400 m3, is capable of operating as both an FSRU and a fully tradeable LNG carrier. In September, Excelerate and Maran Gas Maritime signed a five-year bareboat charter agreement (BBC) for the FSRU. Excelerate will have the option to purchase Excelerate Sequoia during the five-year BBC.
“We are pleased to have Excelerate Sequoia in our fleet to serve our portfolio of regasification customers,” said Excelerate president and managing director Steven Kobos. “Since the delivery of the industry’s first FSRU in 2005, our technology has allowed us to quickly and reliably open new natural gas markets around the world. We have seen firsthand the difference our floating regasification terminals have made in communities who would have otherwise been locked out. We will continue to deliver affordable, clean energy to markets that need it,” added Mr Kobos.
The vessel completed its first gas-up and cool-down operations at POSCO Energy’s Gwangyang LNG Terminal in Jeonnam, South Korea on 21 June. The terminal is South Korea’s first private LNG terminal and has carried out gas-trial and gas-up/cool-gown operations for more than 150 vessels since 2005. Gas-up is one of the mandatory procedures an LNG carrier must perform to make the vessel commercially ready to receive LNG cargoes.
Excelerate’s entire fleet of FSRUs have been built by DSME. Excelerate Technical Management, a wholly owned subsidiary of Excelerate, will provide ship management for the vessel.
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