THE WOODLANDS, Texas--(BUSINESS WIRE)--Sep. 23, 2024--
Excelerate Energy, Inc. (NYSE: EE) (the “Company” or “Excelerate”), a leading provider of floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) solutions, and PetroVietnam Technical Services Corporation (PTSC), a subsidiary of Vietnam Oil and Gas Group (PetroVietnam) and the leading provider of oil & gas and industrial services in Vietnam, have signed a strategic partnership agreement to jointly study FSRU based technical solutions for LNG imports into Vietnam.
Through this strategic alliance, Excelerate and PTSC will leverage their unique strengths and combined resources to deliver affordable and reliable energy solutions that address Vietnam’s growing energy demands while supporting the country’s transition to carbon neutrality.
Under the partnership agreement, the two companies will conduct joint feasibility studies to assess the viability of FSRU opportunities in Vietnam. The studies aim to optimize existing natural gas infrastructure and augment domestic supply with regasified LNG to help meet the growing demand for natural gas and stimulate the development of a regional gas market.
“Signing this agreement marks a significant milestone in the collaboration between Excelerate Energy and PetroVietnam Technical Services Corporation,” said Steven Kobos, President and CEO of Excelerate. “We are committed to working together to address Vietnam's energy challenges and contribute to the country's sustainable development.”
The strategic partnership with PTSC is an important next step in the Company’s broader strategy to invest in the rapidly growing Vietnamese LNG market. In June 2024, Excelerate signed a term sheet with ITECO Joint Stock Company, a Vietnamese based private development company, to co-develop a greenfield LNG import terminal in Hai Phong, Vietnam.
ABOUT EXCELERATE ENERGY
Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of flexible regasification services from FSRUs to infrastructure development to LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, London, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit https://www.excelerateenergy.com.
ABOUT PETROVIETNAM TECHNICAL SERVICES CORPORATION
PetroVietnam Technical Services Corporation (PTSC), a member of Vietnam Oil & Gas Group (PetroVietnam - PVN), with the solid foundation and the tradition of more than 50 years, going through more than 50 years of establishment, merger, equitization and transformation, PTSC has gradually developed, enhanced its position and become a leading corporation in Vietnam – a big name in the sector of technical services for oil & gas industry and other industries in the region.
PTSC's core businesses are to provide technical services for oil & gas, energy and industrial sectors in which the strategic core services have been professionalized up to international standard, such as: EPCIC for offshore facilities; EPC for industrial plants; FSO/FPSO; offshore supply vessels; geological and subsea surveys; installation, operation and maintenance of offshore facilities; port & supply base; offshore renewable energy and technical manpower supply. For more information visit https://www.ptsc.com.vn.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240923904912/en/
Investors
Craig Hicks
Excelerate Energy
Craig.Hicks@excelerateenergy.com
Media
Stephen Pettibone / Frances Jeter
FGS Global
Excelerate@fgsglobal.com
or
media@excelerateenergy.com
Source: Excelerate Energy, Inc.
