Excelerate Energy L.P. (Excelerate) announced that it has successfully concluded with Petróleo Brasileiro S.A. (Petrobras) the negotiation stage of the tender process for the lease of Bahia Regasification Terminal. Once the financial and legal qualification and certification stages have been concluded and all necessary regulatory approvals have been obtained, Excelerate will start importing LNG and selling regasified natural gas to its Brazilian customers. Excelerate will deploy one of its existing Floating Storage and Regasification Units (FSRU) for service at the Bahia Regasification Terminal.

“Petrobras’ decision to advance in the tender for leasing the Bahia Regasification Terminal to Excelerate is an important milestone in the process of promoting competition in the Brazilian natural gas sector. We understand that increasing access to flexible LNG supply is critical to stabilizing Brazil’s energy system, especially during adverse weather events such as the current severe drought,” stated Steven Kobos, President and Chief Executive Officer of Excelerate. “Petrobras has trusted Excelerate with critical services for years, and we expect to continue to support Petrobras’ efforts to increase LNG access for the Brazilian energy market. We are proactively engaging with customers to assess their natural gas requirements and coordinating with Petrobras to ensure a timely and seamless transition of service.”

Excelerate has provided regasification services in Brazil since 2012, with a track record of operational excellence at Petrobras’ LNG terminals in Bahia, Guanabara Bay, and Pecém. In September 2020, Excelerate’s FSRU Experience broke an industry record for send-out capacity by reaching 1.06 billion cubic feet (BCF) at the Guanabara Bay LNG Regasification Terminal.

As the leader in flexible LNG regasification solutions, Excelerate has delivered reliable, cleaner energy to markets across the globe, developing and operating 13 LNG terminals worldwide.

About Excelerate Energy

Excelerate Energy L.P. is a US-based LNG company located in The Woodlands, Texas. Excelerate is the pioneer and market leader in innovative floating LNG solutions, providing integrated services along the entire LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of floating regasification services from FSRU to infrastructure development to LNG supply.

About Petrobras

Petrobras has upwards of 100 production platforms, 16 refineries, 30,000 kilometers of pipelines and more than 6,000 service stations. Our proved reserves are around 14 billion barrels of oil, a figure expected to double in the next few years. With the discovery of oil and gas in the pre-salt region, Brazil may become the world's fourth biggest oil producer in 2030.

We have built a track record of overcoming challenges since 1953, when the company was created. The main one was developing technology to explore and produce oil in deep and ultra-deep waters, where upwards of 90% of our reserves are nestled. With innovation and daringness, we are now the Brazilian company that makes the applies for the most patents in Brazil and abroad.