Excelerate Buys FSRU Sequoia for $265 Million
The vessel has been under bareboat charter with the company since its delivery in June 2020.
Excelerate Energy has purchased floating storage regasification unit (FSRU) Sequoia from Anemoesa Marine for $265 million. In March 2023, Excelerate closed on an amended and restated $600 million senior secured credit facility, consisting of a $350 million revolving credit facility and a $250 million term loan. Proceeds from the term loan and cash on hand were used to purchase the FSRU Sequoia.
“We are proud to add the FSRU Sequoia to the Excelerate portfolio of fully owned assets,” said Steven Kobos, president and chief executive of Excelerate. “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. We look forward to continuing to utilize the FSRU Sequoia to provide flexible access to cleaner and more reliable energy to our valued markets.”
The FSRU was delivered as a newbuild to Excelerate Energy’s fleet in June 2020 under a 5-year bareboat charter. It has a storage capacity of 173,400 m3 and can operate as both an FSRU and a traditional LNG carrier.
The vessel is currently providing regasification services at the Bahia Regasification Terminal in Bahia, Brazil.