Excelerate Energy L.P. (“Excelerate”) and Transportadora de Gas del Sur S.A. (“TGS”) today announced the execution of a Memorandum of Understanding (“MOU”) to jointly collaborate on the assessment of a liquefaction project (the “Project”) in the city of Bahía Blanca, Argentina. Argentina currently imports liquefied natural gas (LNG) through two floating import terminals, particularly during the country’s peak winter consumption. The successful development of Argentina’s shale gas reserves resulted in a potential excess of natural gas during the summer months. The project aims at studying the technical and commercial viability of liquefying and exporting natural gas during the summer season, allowing a more sustainable development of shale gas resources and reducing Argentina’s annual natural gas net import needs. The study is expected to be completed by the end of 2018, at which time Excelerate and TGS will share the results with government and industry officials and decide on further actions towards the implementation of the Project.

“Given the high seasonality of Argentina’s natural gas consumption, LNG has played a critical role in meeting the country’s energy demands,” stated Excelerate’s Chief Commercial Officer Daniel Bustos. “This Project will significantly enhance Argentina’s capacity to maximize the use of local resources by allowing a more predictable development of shale gas production while reducing the overall costs of importing LNG.”

TGS is carrying out an important midstream project aimed at the transportation and conditioning of the natural gas production derived from the Vaca Muerta Basin, located in the province of Neuquén, Argentina. This Project represents an essential contribution to the development of shale gas reserves, promoted by the National and Provincial Governments, as it will ensure the infrastructure required to inject incremental gas production to the main transportation systems.

“Carrying out LNG production through the Project will be key to promote the development of unconventional gas, since it will allow to expand the scale of the gas market, increasing export opportunities, after having met domestic market needs in Argentina,” stated TGS´ Chief Commercial Officer Néstor Martín.

Both Excelerate and TGS have been critical players in the growth of the Argentine energy industry. Currently, one hundred percent of LNG imported and regasified into the country is through Excelerate’s two floating storage and regasification units (FSRUs). Excelerate developed South America’s first LNG import terminal in 2008 in Bahía Blanca, following with the second terminal in 2011 in Escobar, Argentina. TGS is the leading natural gas transportation company in Argentina and owns and operates South America’s largest pipeline network. The Project underscores both party’s commitment to seeing Argentina’s energy sector become more sustainable for the long term.

About Excelerate Energy

Excelerate Energy L.P. is the pioneer and market leader in innovative floating LNG solutions. We provide integrated services along the entire LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to our customers.

About Transportadora de Gas del Sur S.A.

Transportadora de Gas del Sur S.A. started operations on December 28, 1992, upon the privatization of the Argentine energy sector. Nowadays, we are the major gas transportation company in our country, and conduct the operation of the most extensive pipeline system in Latin America. We are also leaders in natural gas liquids production and commercialization both in the local and exports market - an activity performed from our General Cerri Complex, located in Bahía Blanca, province of Buenos Aires. Furthermore, we provide integral solutions related to natural gas, and link Producers’ activities to the market.