Excelerate Energy L.P. and Maran Gas Maritime Inc. (MGM) have signed a five-year bareboat charter agreement (BBC) for the floating storage regasification unit (FSRU) Hull 2477. During the five-year BBC Excelerate will have the option to purchase Hull 2477. MGM is currently building Hull 2477 at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and is scheduled for delivery in April 2020, when the BBC will start. The vessel will have a storage capacity of 173,400 m3 and will be capable of operating as both an FSRU and a fully tradable LNG carrier.

Hull 2477 will join Excelerate’s existing fleet of nine FSRUs, all built by DSME, and will serve Excelerate’s portfolio of regasification customers. Excelerate Technical Management, a wholly-owned subsidiary of Excelerate, will provide ship management for the vessel.

Excelerate’s owner George B. Kaiser stated, “We are pleased for Excelerate to enter into this transaction with MGM, a leading provider in LNG world shipping. MGM’s growing fleet is a testament to John Angelicoussis’ vision and commitment to the LNG industry.”

MGM’s owner John Angelicoussis stated, “We believe this transaction leverages the strengths of both our companies. Excelerate are market leaders in the FSRU space and we are delighted to have this opportunity to collaborate thereby securing a productive future for this state-of-the-art FSRU.”

Mr. Angelicoussis and Excelerate Managing Director and President Steven Kobos were present for the signing of the agreement.

About Excelerate Energy

Excelerate Energy L.P. is a US-based LNG company located in The Woodlands, Texas. It is part of a privately held US energy group that also includes Kaiser Francis Oil Co, an E&P company with production in the US and Canada along with significant midstream assets, and Cactus Drilling Co, the largest private drilling company in the US. 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 Maran Gas Maritime

Maran Gas Maritime Inc. (MGM) is the Gas Shipping unit of the Angelicoussis Shipping Group (ASGL). MGM was set up in July 2003 to manage the LNG and LPG carriers of ASGL.
ASGL has a well established track record in shipping dating back to 1947. ASGL's fleet now comprises bulk carriers, tankers, LNG vessels and LPG vessels. Today it employs a staff of approximately 300 shoreside professionals as well as over 3,700 officers and crew.