Excelerate wraps up purchase of FSRU Sequoia from Maran Gas

US floating LNG player Excelerate Energy has completed the purchase of the 2020-built FSRU Sequoia from Greece’s Maran Gas Maritime for $265 million.

Excelerate took delivery of this 173,400-cbm vessel, its tenth FSRU, in June 2020 from South Korea’s Daewoo Shipbuilding and Marine Engineering.

Prior to that, the company and Maria Angelicoussis-led Maran Gas signed a five-year bareboat charter deal and the unit is currently located in Brazil.

Excelerate revealed in March plans to exercise an option to buy the vessel from Maran Gas and the FSRU player also entered into a new $250 million term loan facility to fund the purchase.

According to a statement by Excelerate issued on Wednesday, the company completed the purchase of the unit from Anemoesa Marine Inc, a company incorporated under the laws of the Republic of the Marshall Islands and owned by Maran Gas.

“We are proud to add the FSRU Sequoia to the Excelerate portfolio of fully owned assets,” Steven Kobos, president and CEO of Excelerate, said in the statement.

“Acquiring the Sequoia, at a price well below current market value, ensures the vessel will remain an integral part of the Excelerate fleet for the long term,” he said.

Exclerate currently operates ten FSRUs, one of the world’s largest fleets of such vessels, and these units are located around the globe, including in Europe.

The firm also ordered one FSRU in South Korea last year.

- Advertisements -

Most Popular

Tellurian updates on Driftwood LNG work

US LNG terminal developer Tellurian, which is being acquired by Australia's Woodside, released the latest construction update for the...

ConocoPhillips books capacity at Zeebrugge LNG terminal in Belgium

US energy giant ConocoPhillips has signed a deal to book long-term capacity at the Fluxys-operated Zeebrugge LNG import terminal...

NextDecade names new COO

US LNG firm NextDecade, the developer of the Rio Grande LNG export project in Texas, has appointed Tarik Skeik...

More News Like This

Excelerate: Pakistan FSRU wraps up 600th STS LNG transfer

The 150,900-cbm FSRU Exquisite, jointly owned by US FSRU player Excelerate Energy and Qatari LNG shipping giant Nakilat, has...

Excelerate’s FSRU returns to Bangladesh after repairs

Excelerate Energy’s 138,000-cbm FSRU Summit LNG has returned to Bangladesh after it completed repair work in a yard in...

Seatrium scores LNG carrier gig from Angelicoussis

Singapore’s Seatrium has secured a contract from Greek shipping giant Angelicoussis Group to refit the latter’s LNG carriers, tankers,...

Excelerate says Bangladesh FSRU to resume ops by end of July

US-based Excelerate Energy expects its FSRU Summit LNG, which serves Bangladesh’s second LNG terminal located offshore Moheshkhali Island in...