THE WOODLANDS, Texas–( BUSINESS WIRE )–Excelerate Energy, Inc. (NYSE: EE) (the Company or Excelerate), a leading provider of floating storage and regasification units (FSRU) and liquefied petroleum gas (LNG), and PetroVietnam Technical Services Corporation (PTSC), a subsidiary of Vietnam Oil and Gas Group (PetroVietnam) and a leading provider of oil & gas and industrial services in Vietnam, has signed a strategic partnership agreement to jointly study FSRU-based technical solutions for LNG imports to Vietnam.
Through this strategic alliance, Excelerate and PTSC will leverage their unique strengths and combined resources to provide affordable and reliable energy solutions to address Vietnam’s growing energy demand while supporting the country’s transition to carbon neutrality.
Under the partnership agreement, the two companies will conduct a joint feasibility study to assess the viability of FSRU opportunities in Vietnam. The study aims to optimize the existing natural gas infrastructure and increase domestic supply with regasified LNG to help meet the growing demand for natural gas and stimulate the development of regional gas markets.
The signing of this agreement is an important milestone in the collaboration between Excelerate Energy and PetroVietnam Technical Services Corporation, said Steven Kobos, President and CEO of Excelerate. We are committed to working together to solve Vietnam’s energy challenges and contribute to the country’s sustainable development.
The strategic partnership with PTSC is the next important step in the company’s broader strategy to invest in Vietnam’s growing LNG market. In June 2024, Excelerate signed a term sheet with ITECO Joint Stock Company, a private development company based in Vietnam, to develop a greenfield LNG import terminal in Hai Phong, Vietnam.
About EXCELERATE ENERGY
Excelerate Energy, Inc. is a US-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner energy by providing integrated services across the LNG value chain with the goal of delivering fast-to-market and reliable LNG solutions to our customers. The company offers a range of flexible regasification services from FSRU to infrastructure development for LNG supply. Excelerate has offices in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Helsinki, London, Manila, Rio de Janeiro, Singapore, and Washington, DC. For more information, visit https://www.excelerateenergy.com.
About PETROVIETNAM TECHNICAL SERVICES CORPORATION
PetroVietnam Technical Services Corporation (PTSC), a member of the Vietnam Oil & Gas Group (PetroVietnam – PVN), with a solid foundation and more than 50 years of tradition, through more than 50 years of establishment, merger, equity and transformation, PTSC has gradually developed, increase its position and become a leading company in Vietnam ” a big name in the technical service sector for the oil & gas industry and other industries in the region.
PTSC’s core business is to provide technical services to the oil & gas, energy and industrial sectors where strategic core services are professional up to international standards, such as: EPCIC for offshore facilities; EPC for industrial plants; FSO/FPSO; offshore supply vessels; geological and subsea surveys; installation, operation and maintenance of offshore facilities; port & source source; offshore renewable energy and technical power supply. For more information, please visit https://www.ptsc.com.vn.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20240923904912/en/
Investors
Craig Hicks
Managing Energy
Craig.Hicks@excelerateenergy.com
Media
Stephen Pettibone / Frances Jeter
FGS Global
Excelerate@fgsglobal.com
or
media@excelerateenergy.com
Source: Excelerate Energy, Inc.
