Excelerate Energy Secures Iraqi Government Award To Develop Integrated Floating LNG Import Terminal
Benzinga Newsdesk 1 year ago
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Excelerate Energy, Inc. (the "Company" or "Excelerate") (NYSE:EE) today announced that it has received an official Award Letter from the Government of Iraq to develop an integrated floating liquefied natural gas (LNG)
Excelerate Energy, Inc. (the "Company" or "Excelerate") (NYSE:EE) today announced that it has received an official Award Letter from the Government of Iraq to develop an integrated floating liquefied natural gas (LNG) import terminal, marking a significant milestone in the country's energy diversification strategy.
Following approval in Baghdad from Iraq's Prime Minister Mohammed Shia' al-Sudani, Iraq's Deputy Prime Minister and Foreign Minister Fuad Hussein congratulated Excelerate President and CEO Steven Kobos in a September 25 meeting on the margins of the 80th United Nations General Assembly in New York City. The U.S. Department of State's Thomas Lersten, Senior Official to the Office of the Under Secretary for Economic Growth, Energy, and the Environment, attended the meeting and underscored the strategic importance of U.S. LNG to the administration's energy dominance agenda.
The Award Letter is a preliminary step, and development of the terminal remains subject to the successful negotiation and execution of binding commercial agreements. Excelerate is actively engaged with Iraqi authorities to finalize the necessary contracts and ensure timely implementation of this critical energy infrastructure.