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Texas-headquartered Excelerate Power has unveiled plans to broaden its fleet of floating regasification models with a newbuild in South Korea.
The New York-listed agency has penned a letter of intent with Hyundai Heavy Industries for a 170,000 cu m floating storage and regasification vessel (FSRU) anticipated to enter the market in 2026.
The corporate’s president and chief government, Steven Kobos, advised buyers that Excelerate has been trying to develop its 10-strong FSRU fleet since spring, together with newbuilds and conversions.
“Whereas most house owners of FSRUs appear to be in a temper to promote and seize short-term uplift, we assuredly intend to develop this fleet,” stated Kobos.
He revealed that an choice for a second vessel may also be explored because the talks advance to agency up the shipbuilding contract, including that the brand new unit will in all probability displace considered one of Excelerate’s current vessels with a buyer.