Excelerate FSRU enhances Baltic States’ energy security

Excelerate Energy’s floating storage and regasification unit (FSRU) recently arrived at the port of Inkoo, Finland.

The Exemplar was previously loaded with a partial cargo of liquefied natural gas (LNG) which will serve as the initial commissioning cargo for the terminal. It is chartered to Gasgrid Finland for 10 years, enabling the secure delivery of regasified LNG to Finland and other Baltic countries.

Steven Kobos, President and CEO of Excelerate, said the arrival of the FSRU Exemplar represents an important milestone for Finland as it prepares to enhance its energy security and bring essential energy infrastructure to the region.

In addition to providing regasification services under the Time Charter with Gasgrid, Excelerate, through its recently formed Finnish gas marketing subsidiary, Excelerate Finland Gas Marketing, has executed an agreement for the sale of commissioning volumes and regasification capacity rights during the commissioning phase.

Through this agreement, Excelerate Finland will be able to provide natural gas to downstream customers in Finland and other Baltic countries.

The 291m-long Exemplar has a storage capacity of 150,900cbm of LNG and can provide more than 5bcm per year of regasification capacity.

It departed drydock in Spain on December 6 where it underwent customer-requested upgrades and subsequently procured its cargo from Excelerate’s global LNG portfolio via a ship-to-ship transfer with the FSRU Excelsior near Gibraltar.

The Excelsior recently completed its 10-year service in Israel and will go on charter to the Federal Republic of Germany in 2023.

Germany recently received the first delivery at its newly opened LNG terminal in Wilhemshaven (click here).

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