Our client, Excelerate Energy, issued the following press release on April 18, 2013 regarding the Aguirre Offshore GasPort LNG project that we have been working on since early 2008.  Earthshine was the company that first identified this opportunity to provide natural gas from ships directly to power plants in the island, investigated the potential providers of this technology, and determined that Excelerate was the most capable to provide this infrastructure and service to the Puerto Rico Electric Power Authority.  Then, we had to work with PREPA to get them to see the tremendous benefits of implementing this technology for Puerto Rico.  Five years later, we are proud to have come up with the idea and to have been intimately involved in making this project a reality.

Here's their April 18. 2013 press release:

OFFSHORE AGUIRRE, PUERTO RICO, April 18, 2013 – Excelerate Energy and the Puerto Rico Electric Power Authority (PREPA) have filed their formal application with the Federal Energy Regulatory Commission (FERC).

The filing represents a major milestone in the permitting process and signifies a step closer to receiving approval to build and operate a floating offshore liquefied natural gas (LNG) regasification facility off the southern coast of Puerto Rico.

The Aguirre Offshore GasPort® is a proposed LNG import facility located approximately four miles offshore the southern coast of Puerto Rico, near the town of Salinas. The facility will provide fuel to the Central Aguirre Power Complex and will convert power generation from high-cost, high-emissions imported oil to cost-effective, cleaner-burning natural gas. The Central Aguirre Power Complex will convert 900 MW of existing power generation to be dual-fueled, capable of using No. 2 diesel and/or natural gas as its primary fuel.

The companies anticipate FERC will issue the draft Environmental Impact Statement (EIS) in the third quarter 2013 and a final EIS early 2014. As part of the process, public hearings will be held so interested parties and the communities may participate in the process. Pending approval from FERC, the facility is expected to be in-service in early 2015. Prior to the filing, Excelerate has held numerous presentations for communities and interested parties in the Aguirre area. 

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ABOUT THE PUERTO RICO ELECTRIC POWER AUTHORITY

The Puerto Rico Electric Power Authority (PREPA) is a public corporation that was founded in 1941. PREPA owns and operates electric generating and distribution facilities serving all of Puerto Rico, supplying the majority of the power consumed on the Island. Dependable generating capacity aggregates approximately 4.4 million kilowatts, and adequately supplies the highly industrialized economy of Puerto Rico. PREPA is directed by a Government Board.

ABOUT EXCELERATE ENERGY^®

Excelerate Energy L.P. is a developer of LNG transportation and regasification infrastructure, a provider of LNG storage and regasification services, an importer of LNG and it recently entered into LNG production. Today, Excelerate Energy leads the industry in the development of innovative, flexible and less capital intensive floating LNG import solutions based on its dockside (GasPort®) and offshore (Gateway™) Energy Bridge shipboard regasification technology. The company also operates as a global LNG Marketing and Trading organization. Headquartered in The Woodlands, Texas, Excelerate has an established presence in London, Dubai, Kuwait City, Buenos Aires, and Rio de Janeiro. For more information, please visit www.excelerateenergy.com.

 

MEDIA CONTACT:

Excelerate Energy L.P.

Denise Madera

(832) 813-7617

media@excelerateenergy.com