Excelerate Energy and Maran Gas Maritime Agreement for FSRU                                      

Excelerate Energy and Maran Gas Maritime Inc. have signed a five-year bareboat charter agreement (BBC) for the floating storage regasification unit (FSRU) Hull 2477 Excelerate announced today. During the five-year BBC Excelerate will have the option to purchase Hull 2477. MGM is currently building Hull 2477 at Daewoo Shipbuilding and Marine Engineering (DSME) shipyard and is scheduled for delivery in April 2020, when the BBC will start. The vessel will have a storage capacity of 173,400 m3 and will be capable of operating as both an FSRU and a fully tradable LNG carrier.

Excelerate's owner George B. Kaiser stated, "We are pleased for Excelerate to enter into this transaction with MGM, a leading provider in LNG world shipping. MGM's growing fleet is a testament to John Angelicoussis' vision and commitment to the LNG industry."

Hull 2477 will join Excelerate's existing fleet of nine FSRUs, all built by DSME, and will serve Excelerate's portfolio of regasification customers. Excelerate Technical Management, a wholly-owned subsidiary of Excelerate, will provide ship management for the vessel.