Friday, April 9, 2010
Excelerate Energy Announces Asset Optimization Plan
THE WOODLANDS, TX, April 09, 2010 - Excelerate Energy L.P. announced today it is accepting value propositions from LNG counterparties to participate in asset optimization discussions centered around its Gulf Gateway Deepwater Port. Excelerate will explore creative asset structures including capacity slots, regasification, options, swaps and discretionary dedicated shipping to maximize natural gas value within the strategic Atlantic basin.
"Excelerate Energy currently benefits from several successful value-chain partnerships with cooperative arrangements, and this plan represents a natural extension. We expect these proactive efforts to continue to strengthen our position in this dynamic global LNG market," said Rob Bryngelson, CEO of Excelerate Energy.
Gulf Gateway enjoys a competitive advantage over conventional land-based LNG receiving terminals due to its inherent flexibility, storage and reliability. This facility discharges natural gas directly into a substantial number of interstate and intrastate pipelines. This direct access to the NYMEX-traded Henry Hub provides arbitrage opportunities within the U.S natural gas pipeline grid. Additionally, Gulf Gateway can accept virtually all qualities of LNG due to the presence of downstream processing.
Beyond traditional arbitrage, Gulf Gateway provides international gas marketers with incremental value from oil-based pricing derived from several processing facilities. Furthermore, it provides unique on-ship floating storage as well as access to affordable high-turn salt-dome. Gulf Gateway demonstrated its reliability during Hurricane Katrina. Excelerate's Energy Bridge Regasification Vessel (EBRV®), Excellence, continued to discharge natural gas supplies into the market long after other natural gas producers were forced to evacuate and shut-in.
At present, Excelerate Energy is involved in collaborative discussions to develop and evaluate high-level structures with LNG supply chain candidates.
Andree Stracke, CCO of Excelerate Energy stated, "We are optimistic during this early stage of discussions and are looking forward to these and other dialogues progressing toward advanced stages."
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About Excelerate Energy
Excelerate Energy, L.P., based in The Woodlands, Texas, is a liquefied natural gas (LNG) importer and marketer that is redefining the way LNG moves around the globe. With the proven ability to apply its proprietary regasification technology to a growing network of market access points worldwide, Excelerate Energy can connect LNG suppliers and customers in a way that minimizes costs for both while maximizing the value of each delivery. Excelerate Energy's fleet of state-of-the-art, environmentally friendly, LNG Regasification Vessels (LNGRVs) compliment the company’s downstream investments in dockside GasPorts and deepwater port Gateways. To further enhance the capabilities of the existing LNGRVs and their cargoes, Excelerate Energy has developed and implemented the first commercially viable program of LNG transshipment via ship-to-ship transfer. This combination of expertise, innovation, and strategic physical assets give the company the equivalent of a flexible, global "pipeline" that can transport LNG from virtually any point to any other point - facilitating delivery to the highest value markets around the world. For more information please visit www.excelerateenergy.com .
Media contacts
Cheryl Floyed
Manager - Marketing and Communication
Tel: (832) 813.7685
Email: cheryl.floyed@excelerateenergy.com
