Excelerate Energy seals FSRU charter in Finland

Texas-headquartered floating regasification specialist Excelerate Energy has landed a ten-year contract with a subsidiary of Gasgrid Finland to charter out the 2010-built floating storage and regasification vessel (FSRU) Exemplar.

Under the deal with an undisclosed value, the 150,900 cu m FSRU, which can provide more than 5bn cu m per year of regasification capacity, will be deployed in Southern Finland.

Per the cooperation agreement signed earlier this month between Gasgrid Finland and Estonia’s gas transmission operator, Elering, the FSRU may be located in an Estonian port this winter if the port structures are not yet completed in Finland. The governments of Finland and Estonia published a memorandum of understanding in April, agreeing to jointly lease an FSRU.

“The collaboration should deliver essential energy infrastructure that will benefit Finland and, more broadly, the Baltic Sea region,” said Steven Kobos, president and CEO of Excelerate, which operates one of the largest fleets of floating storage and regasification units (FSRUs) with 10 vessels ranging between 138,000 cu m and 173,400 cu m.

“Leasing an LNG terminal vessel is extremely important, as it ensures security of supply for gas supplies in both Finland and Estonia. On the other hand, we see that there is a need for the terminal in the wider Baltic Sea region and it has been received with interest,” added Olli Sipilä, CEO of Gasgrid.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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