Excelerate Energy, Inc. has announced that it has delivered two cargoes of liquefied natural gas (LNG) in the month of November to Petrobangla through the company’s two floating storage and regasification units (FSRUs) located offshore Moheshkhali Island. “Excelerate Energy is pleased to help fuel Bangladesh’s economy through its flexible infrastructure and the delivery of affordable LNG supply,” said Steven Kobos, President and Chief Executive Officer of Excelerate, in a statement on Sunday. “We are proud to have won this contract to provide LNG through an open and fair tender process where we offered the most competitive price,” he added. Excelerate Energy has operated LNG infrastructure in Bangladesh since 2018, in partnership with the International Finance Corporation. The Company’s FSRUs in the Bay of Bengal deliver approximately 34% of Bangladesh’s natural gas supply.  

President and Chief Executive Officer of the Excelerate Energy Steven Kobos on Tuesday said there has been a lot of interest in Bangladesh from American companies and his company has planned to invest more in the country's energy sector and decarbonisation. The company wants to scale up and ensure smooth supply of Liquefied Natural Gas to the country, he said. Kobos, also the chairman of the US-Bangladesh Business Council, hailed the Chief Adviser for assuming the leadership of the Interim Government, saying it will increase business confidence in Bangladesh. "There has been a lot of interest in Bangladesh from American companies since you took over," Kobos said, adding some of the top US companies, including members of the US-Bangladesh Business Council, were excited about business prospects in the South Asian country. Russian Ambassador, Foreign Adviser discuss strengthening ties in energy, trade, and food security Excelerate currently has investment in two offshore Floating Storage and Regasification Units in Bangladesh, which supply 1.1 billion cubic feet, accounting for some 34 percent of the country's daily gas supply. Prof Yunus welcomed more US investment in Bangladesh, saying his government has taken steps to attract foreign direct investment and improve the business climate in the country, according to CA’s press wing. "You have come at the right time here," Prof Yunus told Kobos and his business delegation. During his recent visit to the US, the Chief Adviser spoke at an event of the US-Bangladesh Business Council, inviting all its 50 members including some of the top American multinational firms, to invest in Bangladesh. In the meeting, Steven Kobos was accompanied by high officials of  Excelerate Energy, including Peter Haas, a former US ambassador to Bangladesh who recently joined Excelerate Energy as its Strategic Adviser, Derek Wong and Ramon Wangdi, vice presidents of the company, and Habib Bhuiyan, the country manager. Lamiya Morshed, senior secretary and the head of SDG Affairs, Ashik Chowdhury, chairman of Bangladesh Investment Development Authority (BIDA) and energy secretary Saiful Islam were also present during the meeting. Excelerate Energy, Inc. (NYSE: EE) is committed to being the global leader in flexible LNG infrastructure solutions and leveraging its unrivaled experience to help customers across the globe unlock access to abundant LNG supply.

Excelerate Energy, a US-based LNG company, has touched a milestone by conducting its 2000th commercial ship-to-ship (STS) transfer of liquefied natural gas (LNG) at its Moheshkhali Floating LNG (MLNG) terminal located off Bangladesh in the Bay of Bengal. A total of 144,191 cubic meters of LNG were transferred using the double-banked LNG transfer system and Excelerate’s Floating Storage Regasification Unit (FSRU) named Excellence and a conventional LNG carrier in Bay of Bengal this week, said a press release of the company. Excelerate Energy’s Chief Operating Officer Cal Bancroft expressed his satisfaction for achieving the milestone of 2000th STS transfer in the Bay of Bengal as Excelerate represented a 20 percent uplift in gas supply to Bangladesh. Also read: Experts suggest feasibility study on Matarbari LNG, LPG terminals “Having achieved this milestone safely is a testament to the hard work and dedication of our team and vessel crews worldwide,” he said in the statement. Since 2018, Excelerate has provided clean, reliable energy to Bangladesh through its two FSRUs located offshore in the Bay of Bengal while it has so far successfully transferred over 236,405,000 cubic meters of LNG using its STS protocol worldwide in last 14 years after conducting its first commercial STS transfer in 2007. “Operating in challenging locations like the Bay of Bengal is why customers can count on our teams to deliver much-needed energy,” Bancroft said. Also read: Cabinet body okays LNG import from int’l spot market Excelerate’s MLNG terminal is Bangladesh’s first LNG import facility while its two FSRUs have been allowing for a more resilient gas and power grid for the Chattogram region that were previously underserved.  The US-based energy company has so far imported over 157 cargoes of LNG and delivered an excess of 500 million MMBtu of natural gas into the Bangladeshi market. In March, Bangladesh reached its highest level of gas output with around 837 million cubic feet per day of natural gas while the government continues to increase its LNG imports to meet the rising domestic demand, said Excelerate Energy.