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Excelerate and PREPA ink FSRU agreement

LNG Industry,

Excelerate Energy and the Puerto Rico Electric Power Authority (PREPA) have signed definitive agreements for the procurement, construction and operation of the Aguirre Offshore GasPort terminal.

FSRU and offshore terminal

The agreements included the provision of a floating storage and regasification unit (FSRU) by Excelerate, as well as the design, construction and operation of an offshore terminal for the berthing of the FSRU and the reception and transfer of LNG.

Clean fuel source

“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. We recognise 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,” commented Rob Bryngelson, Excelerate CEO.

FERC process

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 in Q4 2014.

Adapted from press release by Katie Woodward

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