Excelerate Energy ( NYSE: EE ) +2% in Tuesday's trading after saying it signed a five-year contract with Germany's government to charter a floating storage and regasification unit to help provide energy security and supply diversification to the country.
Under the deal terms, the FSRU Excelsior will go on charter in Q1 2023 and will be deployed in the Port of Wilhelmshaven; the Excelsior has an LNG storage capacity of 138K cm nd send-out capacity of 5B cm/year.
"The deployment of the FSRU Excelsior to Germany demonstrates our commitment to strengthening energy security at a time when traditional energy sources have proven unreliable," President and CEO Steven Kobos said.
Excelerate Energy ( EE ) is relatively unknown to investors but is "a world leader offering services worldwide for which there is much more demand than supply," James Hanshaw writes in an analysis published recently on Seeking Alpha .
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Excelerate Energy, German government sign FSRU charter deal