Commissioned in late March of this year, the terminal initially employed the EXQUISITE for both cargo delivery and regasification purposes. The terminal will continue to receive LNG supply via periodical STS transfers allowing for the continuous flow of gas into the local gas distribution system.

• Excelerate’s FSRUs Perform the First STS Transfer of LNG at Engro Elengy LNG Terminal Pakistan

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As part of the commissioning process, EXQUISITE loaded its first LNG cargo in Ras Laffan, Qatar, on March 24, 2015. After arriving in Port Qasim on March 27, the terminal completed commissioning activities and regasification acceptance test in less than three days, allowing the EXQUISITE to enter commercial service by March 31, 2015.

“Our goal is to provide safe and reliable performance for our customers, while working to commission projects quickly to begin serving their energy needs as soon as possible,” stated Rob Bryngelson, President and CEO of Excelerate. “As the FSRU industry leader, our experience and expertise allow us to measure our commissioning timelines in days, not months.”

The LNG Terminal in Port Qasim is the ninth floating regasification terminal developed by Excelerate directly or in collaboration with its partners and customers. Engro and Excelerate’s successful collaboration to implement this critical infrastructure project in Pakistan exemplifies Excelerate’s partnership approach for the delivery of efficient, reliable, and cost effective floating regasification solutions around the world.

• Engro Corporation and Excelerate Energy Commission Port Qasim LNG Terminal

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The FERC staff concludes in its statement that the construction and operation of the Project would result in limited adverse environmental impacts that would mostly occur during construction. Moreover, the statement confirms the inherent benefits of the Project of improving air quality in the region and reducing barge traffic in Jobos Bay.

“We are pleased with FERC’s final assessment that concludes the facility will have minimal impact on the environment,” stated Daniel Bustos, chief development officer of Excelerate. “The EIS is a result of an in-depth environmental review process by FERC and addresses the input from cooperating agencies and the public. Excelerate will implement any necessary mitigation measures and meet the conditions outlined in the EIS. We are committed to constructing a safe, environmentally sound, and reliable facility.”

“The Aguirre Offshore GasPort is a national project, and the publication of the EIS represents an important step in the development of the project. This project is critical in order for PREPA to ensure a cleaner source of energy and to reduce emissions of air pollutants, thus allowing compliance with the new federal regulations, as proposed under the Clean Air Act. Above all, we are committed to improving the quality of life for residents of the Island,” stated PREPA’s executive director, Juan F. Alicea Flores.

“Both Excelerate and PREPA have been working together for the past several years to reach this significant milestone in the project,” added Rob Bryngelson, chief executive officer of Excelerate. “We appreciate PREPA’s confidence in us to provide Puerto Rico with a safe, reliable, and clean fuel source for power generation, and that confidence is well-placed given our unmatched experience and expertise in delivering floating regasification solutions.”

The release of the EIS comes after three years of extensive analysis through the environmental review process. Within this timeframe, Excelerate has responded to data requests from FERC, cooperating agencies, and the general public. In addition, both Excelerate and PREPA have held numerous meetings with both the private and public sectors to ensure complete transparency throughout the entire permitting process. The FERC issued the draft EIS on August 7, 2014, which opened the public comment period until September 29, 2014. Modifications to the original subsea pipeline laying method were made based on comments received on the draft EIS.

In the coming months, Excelerate will continue to work with FERC and cooperating agencies to obtain the required certificates and permits. The facility is expected to be in service in 2016.

• Excelerate Energy’s Aguirre Offshore GasPort Project Receives EIS from FERC

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The facility will be located in Block R approximately 140 kilometers off the coast of Bioko Island, Equatorial Guinea. The FLSO will liquefy natural gas into LNG onboard the specialized vessel and subsequently offload the LNG to LNG carriers, allowing for the quick and cost-effective commercialization of the natural gas. The project is expected to produce up to 3.0 million tonnes of LNG per annum for a period of 20 years. The facility will operate in water depths of approximately 1600 meters and benign met ocean conditions, ideal for FLNG projects.

“We are pleased that the Government of Equatorial Guinea and Ophir have entrusted Excelerate Energy with the development of this state-of-the-art facility and the first of its kind in Africa,” stated Rob Bryngelson, President and CEO of Excelerate. “Our partnership demonstrates our commitment in developing innovative means of accessing new sources of energy.”

Excelerate’s participation in the Fortuna LNG project builds on the company’s expertise as the industry-leading provider of floating regasification solutions, as well as the extensive development and design work done to date for floating liquefaction. More broadly, the project is aligned with the company’s strategy to become the leading provider of small and mid-scale FLNG projects with 1 to 4 MTPA of LNG production.

• Excelerate Energy Appointed Midstream Partner for FLNG Project Offshore Equatorial Guinea

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“We are pleased with FERC’s conclusion in confirming that the project will have minimal impacts to the environment. In order to ensure we safeguard the environment, we will implement any necessary mitigation measures outlined in the final EIS,” stated Daniel Bustos, Chief Development Officer of Excelerate Energy. “As with our other facilities worldwide, we are committed to being a safe and responsible operator within the communities we serve.”

“The publication of the draft represents a step forward towards our objective of reducing our dependence on oil and increase the use of natural gas to generate electricity and achieve to lower the energy cost in the island,” said PREPA’s executive director, Juan F. Alicea Flores.

AOGP has undergone an extensive analysis during the review process, with Excelerate responding to data requests from the FERC, cooperating agencies, and the general public. In addition, both Excelerate and PREPA have held numerous meetings with both the private and public sectors to ensure complete transparency throughout the entire permitting process.

The FERC has opened the project for public comment until September 29, 2014. The Commission expects to issue the final EIS by December 19, 2014. Pending FERC’s approval, the facility is expected to begin construction in April of 2015.

• Excelerate Energy’s Aguirre Offshore GasPort Project Receives Draft EIS from FERC

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The facility will include the installation of a subsea buoy system anchored offshore. The buoy system will act as both the mooring mechanism for the FSRU and as the conduit through which natural gas is delivered to shore through a subsea pipeline. The FSRU will have 138,000 cubic meters of LNG storage capacity and a base regasification capacity of 500 million standard cubic feet per day.

• Excelerate Energy and Petrobangla in Agreement for Long-Term FSRU Charter and Construction of LNG Import Facility

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“We are delighted to have reached this important milestone. PREPA and Excelerate have been working together for the past months to define the technical and operational aspects of the project, as well as completing the necessary environmental studies, in order to reach this step,” stated Rob Bryngelson, President and CEO of Excelerate, “We recognize that the Aguirre Offshore GasPort facility is a crucial project for bringing a reliable, clean fuel source for power generation to the island – we thank PREPA for placing their trust in our company.”

The project is well advanced in the Federal Energy Regulatory Commission (FERC) process and is expected to receive its Draft Environmental Impact Statement (DEIS) in the coming month. Pending FERC approval, construction is expected to begin the fourth quarter of 2014.

• Excelerate Energy and PREPA Sign Definitive Agreements for the Aguirre Offshore GasPort Project

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“Excelerate Energy is pleased to celebrate this special occasion with DSME and Petrobras. We have had a longstanding relationship with DSME, and they have proven to be a highly reliable partner in helping us deliver solutions for floating regasification. We have also forged a strong relationship with Petrobras and appreciate the faith they have placed in us to deliver this critical piece of energy infrastructure,” stated Rob Bryngelson, President and CEO of Excelerate Energy, “With this being our ninth regasification vessel, we felt the name ‘Experience’ was appropriate given our proven track-record in the FSRU market.”

The Experience completed successful gas trials in early March and will be delivered to Petrobras in mid-May for service at its Guanabara Bay facility. The vessel will be capable of operating as both an FSRU and a fully tradable LNG carrier. Excelerate has been providing bridging services to Petrobras since the end of 2012 by supplying the company with one of its existing FSRUs while the Experience was being constructed.

• Naming Ceremony for the World’s Largest FSRU, the “Experience”

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The filing represents a major milestone in the permitting process and signifies a step closer to receiving approval to build and operate a floating offshore liquefied natural gas (LNG) regasification facility off the southern coast of Puerto Rico.

The Aguirre Offshore GasPort® is a proposed LNG import facility located approximately four miles offshore the southern coast of Puerto Rico, near the town of Salinas. The facility will provide fuel to the Central Aguirre Power Complex and will convert power generation from high-cost, high-emissions imported oil to cost-effective, cleaner-burning natural gas. The Central Aguirre Power Complex will convert 900 MW of existing power generation to be dual-fueled, capable of using No. 2 diesel and/or natural gas as its primary fuel.

The companies anticipate FERC will issue the draft Environmental Impact Statement (EIS) in the third quarter 2013 and a final EIS early 2014. As part of the process, public hearings will be held so interested parties and the communities may participate in the process. Pending approval from FERC, the facility is expected to be in-service in early 2015. Prior to the filing, Excelerate has held numerous presentations for communities and interested parties in the Aguirre area.

• Excelerate Energy Files Formal Application with FERC for the Aguirre Offshore GasPort LNG Import Facility in Puerto Rico

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The vessel will be capable of operating as both a floating storage and regasification unit (FSRU) and a fully tradable LNG carrier. With a storage capacity of 173,400 m3 and sendout capability of 1 Bcf/d, it will be the largest and most capable FSRU in the industry.

• DSME Cuts Steel for Excelerate Energy’s VT3 Project

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Located on the Texas Gulf Coast, Lavaca Bay LNG will be the first floating liquefaction export facility in the United States and will utilize Excelerate’s Floating Liquefaction Storage Offloading vessel (FLSO™) technology. The facility will require authorization from the Federal Energy Regulatory Commission (FERC). Excelerate will begin the FERC pre-filing process fourth quarter 2012 and expects the facility to be in-service in 2017.

• United States Grants Excelerate Energy Permission to Export LNG

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The initial options are for 173,400 m3 LNG FSRUs that will measure 294 meters in length and 46 meters in width and will be capable of a baseload send-out capacity of 800 MMcf/d with peaking capacity in excess of 950 MMcf/d. The FSRUs will be based on Excelerate’s ninth FSRU under construction at DSME and committed to the Petrobras VT3 project. The company has the option for smaller or larger capacity vessels depending on the future requirements of the market. The new vessels will incorporate Excelerate Energy’s proven Energy Bridge™technologies and will represent the largest and most capable FSRUs in the world.

“Excelerate Energy is very pleased to continue its longstanding relationship with DSME in building the industry’s leading FSRUs which, in long-term service, have proven to be safe, efficient and reliable components of our comprehensive suite of LNG import solutions,” said Edward Scott, Excelerate Energy’s Senior Vice President of Development. “As we see our existing assets being committed to projects and the worldwide market continuing to grow, we believe this is the right time to partner with DSME in order to continue to provide LNG import solutions in a timely and efficient manner.”

Excelerate has developed and commissioned six LNG import facilities worldwide, with a seventh facility entering service in the fourth quarter of 2012 and an eighth terminal currently in advanced stages of development in Puerto Rico. Looking forward, Excelerate has a significant project development portfolio for both floating regasification as well as floating LNG production projects. The additional vessels will support the advancement of these projects.

• Excelerate Energy Enters Into a Shipbuilding Option Agreement with DSME for Eight New FSRUs

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Excelerate Energy’s FLSOcomprises 3 million tonnes per annum (MTPA) of production capacity, 250,000 cubic meters (m³) of LNG storage, and a fully integrated gas processing plant. With this gas processing capability, the FLSO can accommodate a wide range of gas compositions at its inlet making it well suited for virtually any application near shore or offshore. For those situations where gas processing is not required due to presence of existing processing facilities or where pipeline quality gas is used as the feedstock, the processing equipment can be removed and liquefaction capacity increased to 4 MTPA.

The FLSO will measure 338 meters in length, with a breadth of 62 meters. Front End Engineering and Design (FEED) is in an advanced phase and Excelerate is now entering into discussions with potential off takers and natural gas suppliers as well as investors and potential sources of finance to take the project forward. Excelerate Energy expects FEED to last until the end of 2012, and following its completion and successful permitting project delivery will take approximately 44 months from final investment decision (FID).

In its initial phase, the Lavaca Bay LNG project will consist of one permanently moored FLSO with multiple connections to the onshore natural gas grid in South Texas. The project will be designed with the potential for expansion and the addition of a second FLSO over time for a total production capacity of up to 8 MTPA. Excelerate Energy expects to begin the export authorization and Federal Energy Regulatory Commission (FERC) permitting immediately, and is in the process of completing its site-specific final front-end engineering design (FEED) effort.

“Excelerate Energy applies the same philosophy to its liquefaction vessel design as it does to its regasification vessel fleet – essentially using proven technology in an innovative way to provide more efficient and timely solutions to the LNG industry,” stated Rob Bryngelson, Excelerate Energy President and CEO. “Port Lavaca provides us with the unique opportunity to further capitalize on our position as a market leader in floating LNG solutions.”

Excelerate Energy selected Port Lavaca for the site of the facility because of its direct access to the highly liquid south Texas natural gas market, access to the Atlantic Basin through the Gulf of Mexico, and potential access to the Pacific basin with the widening of the Panama Canal. The facility will interconnect to the region’s existing pipeline system in order to obtain natural gas and liquefy it onboard the vessel. The Port Lavaca location being developed by Excelerate Energy has previously received FERC approval as an LNG import facility, which should facilitate the permitting process.

• Excelerate Energy to Build First Floating Liquefaction Export Facility in the United States

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The Central Aguirre Power plant has already converted 600 MW of its available 1500 MW to utilize natural gas and has plans to convert the remaining 900 MW prior to completion of Excelerate Energy’s Aguirre GasPort.

PREPA recognizes the urgent need to reduce the dependence on oil and increase the use of natural gas to stimulate economic development, attract industries, improve the quality of life and create more jobs on the island. "If we want to be competitive at the global level, we must substantially reduce dependence on oil. The construction of the Aguirre GasPort facility will allow us to reduce that dependency," a PREPA representative stated.

Aguirre GasPort
The Aguirre GasPort will be located approximately four miles offshore the southern coast of Puerto Rico, near the towns of Salinas and Guayama and will utilize one of Excelerate Energy’s 150,900 m3floating storage and regasification vessels. The facility will operate year-round, delivering natural gas to PREPA’s Aguirre Power Plant as its primary fuel source, eliminating the use of heavy fuel oil and diesel. Construction of the Aguirre GasPort will be Excelerate Energy’s seventh floating LNG import facility ‒ the most of any company in the industry.

“We are extremely pleased to partner with PREPA in providing Puerto Rico with a reliable, clean fuel source for power generation that will greatly reduce air emissions for the Island. Our experience and expertise in delivering floating regasification solutions in a cost-effective and timely manner ensure that we will provide an efficient and reliable project for PREPA,” said Rob Bryngelson, President and CEO of Excelerate Energy.

The Aguirre GasPort will require authorization from the Federal Energy Regulatory Commission (FERC) and be subject to a full public environmental review and analysis under the National Environmental Policy Act (NEPA). The facility is expected to be in-service in 2014.

The Aguirre GasPort utilizes proven technology that has been utilized in Argentina, Kuwait, Brazil, the United States and England. The company’s fleet of eight purpose-built LNG regasification vessels is capable of transporting, storing, and delivering approximately 3.0 to 3.2 billion cubic feet (bcf) of natural gas into various markets worldwide. Excelerate Energy is currently constructing the world’s largest FSRU for Petrobras in Brazil, which will have a storage capacity of 173,400 m3. This vessel is expected to enter into service in May of 2014.

• Excelerate Energy Advances Its Seventh Offshore LNG Import Facility in Puerto Rico

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Excelerate Energy developed and implemented the industry’s first STS transfer system for LNG deliveries to regasification vessels in 2005 in order to optimize the capabilities of regasification vessels and to provide a viable solution for providing a continuous supply to market. STS transfers have been commercially accepted and proven in a wide range of environments including open ocean locations and protected bodies of water at a variety of locations between the LNG load ports and the market delivery points.

On November 19, 2011, Excelerate Energy was recognized by the CWC World LNG Summit for its contribution to the industry by being awarded the 2011 CWC LNG Technological Innovation Award for its pioneering efforts in STS transfers of LNG. “We are profoundly pleased to be the recipient of the LNG Technological Innovation Award for having developed and implemented the first ship-to-ship transfer system. We have always been committed to growing the industry through innovation and it is a great honor to have our contribution recognized by our peers,” stated Rob Bryngelson, President and CEO of Excelerate Energy.

• Excelerate Energy Performs 200th Ship-to-Ship Transfer of LNG

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In addition, from July 2013 until the arrival of the VT3 newbuilding, the Guanabara Bay Terminal will make use of the Exquisite, one of Excelerate Energy’s existing FRSUs with an increased regasification plant, expanding the terminal’s delivery capacity from 14 to 20 million cubic meters per day.

The VT3 newbuilding design is based on Excelerate Energy’s existing fleet and Petrobras requirements, and will have a storage capacity of 173,400 m3 making it the largest FSRU in the industry. Capable of operation as both an FSRU and a fully tradable LNG carrier, this vessel is expected to enter into service in May of 2014.

Excelerate Energy has selected DSME for the construction of the new vessel, the same shipyard that built its previous eight FSRUs. Working with DSME, Excelerate is continuing the evolution of a highly reliable and proven design, while at the same time, expanding its fleet of compatible vessels.

“We are extremely pleased with the selection of Excelerate Energy to provide this industry-leading vessel, and we are confident that with our experience and expertise in floating regasification that we will provide a high standard of service to justify the confidence that Petrobras has placed in us” said Rob Bryngelson, President and CEO of Excelerate Energy.

• Petrobras Awards Excelerate Energy the Procurement of the VT3 Project, the World's Largest FSRU

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Gulf Gateway was the first deepwater LNG import facility in the world. Excelerate Energy’s commissioning of Gulf Gateway in March 2005 allowed the realization of the floating LNG regasification concept which was first conceived in 2001. Gulf Gateway provided the means for establishing the technical and commercial viability of the Energy Bridge Regasification Vessels (EBRVs®). EBRVs are specially built LNG vessels equipped with onboard regasification capabilities allowing the delivery of natural gas directly into downstream markets.

Gulf Gateway had been effectively delivering natural gas to the Gulf Coast region through two separate offshore pipeline systems. However, in September 2008 Hurricane Ike caused significant damage to both pipelines. Although Gulf Gateway was unaffected by the hurricane, neither pipeline has been able to return to its prior level of service and provide adequate operational pipeline capacity for Gulf Gateway.

“Gulf Gateway has served us well, and was instrumental in confirming the viability of floating LNG regasification – turning an innovative concept into an accepted industry solution. As Excelerate Energy looks to expand its operations and deliver flexible and efficient regasification solutions around the world, we are focused on markets with the greatest need. This focus, coupled with the surge in LNG importation capacity in the US Gulf Coast in recent years, has reduced the need for Gulf Gateway and confirmed that its retirement is the most financially prudent course of action for us” said Rob Bryngelson, Excelerate Energy President and CEO.

The decommissioning further proves the flexibility of Excelerate Energy’s Gateway and GasPort® solutions compared to traditional land-based facilities. Gulf Gateway will be removed within 68 days of permit approval and will have little environmental impact.

In order to take advantage of favorable weather conditions, Excelerate Energy intends to have the facility and related components removed from its offshore location as soon as practicable. Currently, the decommissioning plan is being finalized in coordination with the U.S. Maritime Administration and other regulatory agencies to ensure an efficient and environmentally sound process.

ABOUT EXCELERATE ENERGY®
Excelerate Energy L.P. is a developer of LNG transportation and regasification infrastructure, a provider of LNG storage and regasification services and an importer of LNG. Excelerate leads the industry in the development of innovative, flexible and less capital intensive floating LNG importation solutions based on our dockside (GasPort) and offshore (Gateway) Energy Bridge shipboard regasification technology. In just seven years Excelerate has developed eight Energy Bridge Regasification Vessels (EBRV), two Gateway offshore LNG importation terminals and four dockside GasPort LNG importation terminals. For more information please visit www.excelerateenergy.com.

• EXCELERATE ENERGY TO RETIRE ITS GULF GATEWAY DEEPWATER PORT

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Excelerate Energy implemented the world’s first commercial STS transfer of LNG on August 25, 2006 between the vessels Excelsior and Excalibur, transferring LNG while underway in the Gulf of Mexico. With the demand for LNG rising globally, STS transfers allow for further market reach in minimal time frames and with modest cost and provides significant strategic opportunities for product delivery.

Captain Mark K. Lane, Excelerate Energy’s Senior Vice President of Operations stated, “The commercial ship-to-ship transfer of LNG has reached a status of industry acceptance based on Excelerate Energy’s pioneering achievements to date. Our activities have been conducted with complete transparency to regulatory bodies and LNG industry participants over the past seven years, allowing us to address any concerns and to ensure broad industry acceptance.”

STS transfers have been commercially accepted and proven in a wide range of environments including open ocean locations and protected bodies of water at locations between the LNG load ports and the market delivery points. Additionally, STS transfers have been implemented in regular commercial service at multiple GasPort® locations worldwide, where conventional LNG carriers moor to Excelerate Energy’s Energy Bridge Regasification Vessels (EBRVs®) and transfer cargos into the EBRVs providing uninterrupted baseload service at the market delivery point.

• EXCELERATE ENERGY PERFORMS 100TH SHIP-TO-SHIP TRANSFER OF LNG

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