Germany signs charter contract with Excelerate Energy for FSRU Excelsior

The Government of the Federal Republic of Germany has signed a five-year charter contract with US-based LNG company Excelerate Energy for the floating storage and regasification unit (FSRU) Excelsior (FSRU Excelsior).

The contract was signed by Excelerate President and CEO Steven Kobos and Dr. Patrick Graichen, State Secretary at the Federal Ministry for Economic Affairs and Climate Action (BMWK). It was executed at BMWK headquarters in Berlin.

The charter contract for FSRU Excelsior is part of Germany’s efforts to ensure energy security and diversify supply as well supporting the shift to renewable energy.

Steven Kobos said: “The deployment of the FSRU Excelsior to Germany demonstrates our commitment to strengthening energy security at a time when traditional energy sources have proven unreliable.

“FSRUs have the ability to offer flexible access to greater supply diversification and can serve as a complementary backstop for the rapid scaling of green energy projects. These benefits are consistent with the stated goals of the U.S.-EU Task Force on Energy Security.”

The FSRU Excelsior charter contract is expected to commence in the first quarter of 2023.

With an LNG storage capacity of 138,000 m3 and send-out capacity of 5 bcm/y, the FSRU will be moved to drydock at the end of 2022 for maintenance before it will go on charter in Germany.

The German government intends to deploy the FSRU Excelsior in the Port of Wilhelmshaven.

Previously, BMWK revealed that a consortium comprising Tree Energy Solutions, E.ON, and Engie would jointly develop and implement the fifth FSRU import terminal of Germany with an Excelerate vessel.