Excelerate Energy has signed a letter of intent (LoI) with Daewoo Shipbuilding and Marine Engineering (DSME) to secure up to seven floating storage and regasification units (FSRUs).

Following execution of the LoI, Excelerate can order one FSRU in the second quarter of this year.

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Currently, Excelerate owns a fleet of nine FSRUs, which are all committed to long-term projects. Further additions to the fleet will allow the company to respond to the increasing market demand for natural gas.

Excelerate chief executive officer Rob Bryngelson said: “Excelerate Energy is very pleased to continue its longstanding relationship with DSME in building the industry’s leading FSRUs.

“These vessels have been proven in long-term service as safe, efficient and reliable components of our comprehensive suite of LNG import solutions.

“We believe this is the right time to move forward with DSME as we continue to provide LNG import solutions in a timely and efficient manner around the world.”

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"These vessels have been proven in long-term service as safe, efficient and reliable components of our comprehensive suite of LNG import solutions."

Initial specifications are for 173,400m³ LNG FSRUs with a baseload send-out capacity of one billion cubic feet a day, which can be modified later to suit specific project needs.

DSME partnered with Excelerate for its existing fleet of FSRUs, including regasification vessel Excelsior.

Globally, Excelerate has developed and commissioned ten floating LNG import facilities while two others are currently in development stage in Bangladesh and Puerto Rico.

Excelerate claimed that it has a significant project development portfolio for floating regasification, which will be supported by additional vessels along with its FSRU conversion strategy.

Image: Excelerate Energy and DSME officials. Photo: courtesy of Excelerate Energy.