THE WOODLANDS, Texas, Feb. 24, 2014 (GLOBE NEWSWIRE) -- Excelerate Energy has filed its formal application with the Federal Energy Regulatory Commission (FERC) requesting authorization to construct, own, and operate the first floating liquefied natural gas (FLNG) export facility in the United States.
"The filing represents a major milestone and further strengthens project momentum as we head towards a final approval," stated Rob Bryngelson, President and CEO of Excelerate Energy, "We continue to make strong progress on all fronts and hope to make a final investment decision within the next 12 months."
Pending FERC approval, the facility is expected to be operational in the fourth quarter of 2018. Excelerate Energy has been granted permission to export to free-trade agreement (FTA) nations by the United States Department of Energy (DOE) and has filed for non-FTA approval in October 2012. Excelerate is fourth in order on the list of applicants the DOE is currently processing.
The project has been assigned the following Docket Numbers: CP14-71-000, CP14-72-000, and CP14-73-000.
About Lavaca Bay LNG
Sited along the coast south of Point Comfort, Texas, the facility will comprise of a permanently moored floating liquefaction storage and offloading (FLSO) unit with 4.4 million tonnes per annum (MTPA) of production capacity and 250,000 cubic meters (m³) of LNG storage, and a fully integrated, on-shore gas processing plant. The facility will interconnect to the region's existing pipeline system to obtain natural gas and liquefy it onboard the unit. The project will be designed and permitted with the potential for expansion and the addition of a second FLSO over time for a total production capacity of up to 10 MTPA.
About Excelerate Energy®
Excelerate Energy L.P. is the pioneer and market leader in innovative floating LNG solutions. We provide integrated services along the entire LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to our customers. Excelerate offers a full range of floating regasification services, from FSRU to infrastructure development; we serve the upstream market through the development of floating liquefaction (FLNG) solutions; and our established trading and chartering team is active in the global market and provides access to LNG supply and market to both our downstream and upstream customers. Headquartered in The Woodlands, Texas, Excelerate has a presence in Buenos Aires, London, Rio de Janeiro, and Singapore. For more information, please visit www.excelerateenergy.com.
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