In June 2026, Excelerate executed a seven-year time charter party agreement with Sociedad Portuaria Puerto Bahia, a subsidiary of Frontera Energy Corp., to redeploy the FSRU Express to a new LNG import terminal under development in Colombia.
The agreement includes multiple extension options. Following completion of its current charter and planned dry dock later this year, the FSRU Express is expected to begin service in Colombia in 1Q27. The redeployment secures long-term utilisation of the asset, provides improved economic terms relative to its current deployment, and creates a visible source of near-term earnings growth.
In July 2026, Excelerate entered into a definitive agreement to acquire an LNG carrier, the Methane Patricia Camila, which will serve as the dedicated vessel for the company’s first FSRU conversion project. The acquisition represents an important milestone as Excelerate advances engineering, commercial development, and project planning activities associated with the conversion initiative. Based on current planning assumptions, the converted FSRU is expected to be available for commercial deployment in early 2028.