Excelerate Energy, Inc. (Excelerate) announced that on August 25, 2022, the Company and ENGIE (ENGIE) signed a term sheet for the deployment of a floating storage and regasification unit (FSRU) that will provide flexible and secure LNG regasification capacity for Germany as it continues to seek alternatives to Russian pipeline gas supply.

Under the proposed agreement, Excelerate would deploy an FSRU from its integrated fleet to provide regasification services for a period of five years at Germany’s fifth planned LNG import terminal, which is being developed at the port of Wilhelmshaven by Tree Energy Solutions (“TES”) and ENGIE. The deployment of an FSRU to Germany would significantly increase the Company’s presence in the European market.

“This term sheet represents an important milestone in our commercial negotiations to support the development of a new FSRU import terminal in Germany,” said Oliver Simpson, Commercial Vice President of Excelerate. “We look forward to collaborating with ENGIE and its partners E.ON and TES to support Germany as the country seeks to enhance its energy security and achieve its decarbonization goals.”

The proposed deal demonstrates the flexibility of Excelerate’s business model and the value of its integrated FSRU fleet, which allows the Company to help strengthen Europe’s energy security while expanding its terminal services and downstream gas sales in markets around the world.

About Excelerate Energy

Excelerate Energy, Inc. (NYSE: EE) is a U.S.-based LNG company located in The Woodlands, Texas. Founded in 2003 by George B. Kaiser, Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with an objective of delivering rapid-to-market and reliable LNG solutions to customers. Excelerate offers a full range of flexible regasification services from FSRU to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Ho Chi Minh City, Manila, Rio de Janeiro, Singapore, and Washington, DC.

About ENGIE

Our group is a global reference in low-carbon energy and services. Together with our 170,000 employees, our customers, partners and stakeholders, we are committed to accelerate the transition towards a carbonneutral world, through reduced energy consumption and more environmentally-friendly solutions. Inspired by our purpose (“raison d’être”), we reconcile economic performance with a positive impact on people and the planet, building on our key businesses (gas, renewable energy, services) to offer competitive solutions to our customers.
Turnover in 2021: 57.9 billion Euros. The Group is listed on the Paris and Brussels stock exchanges (ENGI) and is represented in the main financial indices (CAC 40, Euronext 100, FTSE Eurotop 100, MSCI Europe) and non-financial indices (DJSI World, DJSI Europe, Euronext Vigeo Eiris - Eurozone 120/ Europe 120/ France 20, MSCI EMU ESG screened, MSCI EUROPE ESG Universal Select, Stoxx Europe 600 ESG, and Stoxx Global 1800 ESG).

About TES

Tree Energy Solutions (TES) is a global green hydrogen company supplying long term non-intermittent carbon-neutral energy on-demand at industrial scale. TES aims to accelerate the energy transition by leveraging existing global energy infrastructure to reach customers with green hydrogen, green gas and green power while accelerating the phaseout of fossil fuels from the energy system worldwide and adopting a circular carbon economy. TES is currently developing energy supply and import terminal locations in Germany, Belgium, France, The Netherlands, and the United States to provide an integrated network of a significant global scale.