Excelerate Energy has signed a 10-year time-charter deal on its floating storage and regasification unit Sequoia with Brazil’s Petrobras.
Excelerate said that under the charter, operation and services agreement, which will start on 1 January, it will continue to deploy the 173,467-cbm Sequoia (built 2020) — currently listed on databases and shown in photos as the Excelerate Sequoia — primarily at the Bahia Regasification Terminal in Salvador in the state of Bahia.
Sequoia, the youngest operational FSRU in Excelerate’s fleet, was bought from Maran Gas Maritime this year for $265m.
US-listed Excelerate, which has one FSRU newbuilding on order for delivery in 2026, took on the Sequoia in 2019, when it signed a five-year bareboat charter agreement with a purchase option with Maran Gas.
Houston-based Excelerate said it has provided regas services at Petrobras’ LNG import terminals in Brazil since 2012.
Excelerate’s 173,400-cbm FSRU Experience (built 2014) is also providing regasification services in Brazil.
“Maintaining a continued presence in the Brazilian market is a fundamental part of Excelerate’s strategic position as a reliable backstop to the country’s energy system, for which intermittent renewable energy contributes approximately 85%,” the company said.
Chief executive Steven Kobos said: “Brazil is an excellent market. This agreement is an important step in furthering Excelerate’s long-term sustainable growth plan in South America.
“Deploying the Sequoia for 10 more years will position Excelerate well to support Brazil’s efforts to strengthen its energy security.”
