The Texas-based regasification specialist says the initial orders would be for 173,400-cbm vessels with delivery between early 2015 and 2017 but capacity targets could increase or decrease “depending on the future requirements of the market”.
“As we see our existing assets being committed to projects and the worldwide market continuing to grow, we believe this is the right time to partner with DSME in order to continue to provide LNG import solutions in a timely and efficient manner,” added Edward Scott, Excelerate’s vice president of development.
The first series will similar to the company’s ninth FSRU, which it penned at the same yard in 2011 after securing a 15-year charter with Petrobras for the VT3 project and is expected to hit the water in 2014, according to TradeWinds affiliate LNG Unlimited.
In a statement confirming the options agreement Excelerate did not shed light on pricing but similar units under construction at leading yards in South Korea are believed to cost around $254m, according to market sources, which means the options may be worth as much as $2bn in total.
