Excelerate completes purchase of FSRU Sequoia for $265mn
Excelerate Energy has completed the purchase of the floating storage regasification unit (FSRU) Sequoia for $265mn from Anemoesa Marine Inc., a company incorporated in the Marshall Islands, it said on April 18.
In March 2023, Excelerate closed on an amended and restated $600mn senior secured credit facility, consisting of a $350mn revolving credit facility and a $250mn term loan. Proceeds from the term loan and cash on hand were used to purchase the FSRU Sequoia.
Steven Kobos, CEO of Excelerate, said. “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 utilise the FSRU Sequoia to provide flexible access to cleaner and more reliable energy to our valued markets.”
The FSRU Sequoia was delivered as a new build to Excelerate’s fleet in June 2020 under a five-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 FSRU Sequoia is currently providing regasification services at the Bahia regasification terminal in Bahia, Brazil.