Excelerate Energy has entered into a revaporized liquefied natural gas (LNG) off-take purchase arrangement with DB Energy Trading LLC, a subsidiary of Deutsche Bank AG, the company said Wednesday.
The agreement entitles DB Energy Trading to sell Excelerate Energy’s revaporized LNG delivered via Excelerate’s Energy Bridge at the Gulf Gateway and the Northeast Gateway deepwater ports for an undisclosed tenor. Energy Bridge vessels vaporize LNG on board and deliver natural gas through subsea buoys to seabed pipelines and into the gas pipeline grid.
Gulf Gateway is located off the coast of Louisiana and is capable of delivering natural gas at a baseload rate of 500 MMcf/d, with peak rates up to 690 MMcf/d. Northeast Gateway, located off the coast of Massachusetts, recently completed construction and will take its first cargo deliveries in early 2008, the company said (see Daily GPI, Jan. 8). It will accommodate peak sendout of up to 800 MMcf/d and a baseload rate more than 400 MMcf/d. Both terminals will have the ability to increase throughput as future generations of Energy Bridge vessels with increased regasification capacity are delivered.
“We are pleased to be working with DB Energy on the downstream marketing of our natural gas deliveries through Gulf Gateway and Northeast Gateway,” said Excelerate COO Jonathan Cook.
Nicole Jasper, Americas head of commodity sales at Deutsche Bank in Houston, said this is the bank’s first LNG off-take management agreement in the United States.
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