Page 49: of Maritime Logistics Professional Magazine (Q1 2015)

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LNG TRANSPORT & TECHNOLOGY

FSRU EXPERIENCE – the largest regasi? cation vessel in the world.

Although we in the business like to stand on that record, we (Excelerate) don’t necessarily embrace what happened in the past. “

Our mission is to understand what is happening in the future.

We are a very risk-averse company. We identify and quantify and mitigate every single type of risk to the lowest level possible. ” – Captain Mark Lane, Senior Vice President of Operations at Excelerate Energy

We’re deactivating the development program for a number of system up there. We haven’t used the system in a couple years, reasons – market conditions have changed, so it doesn’t make a but keep in mind, those vessels are tools that help us monetize lot of sense right now. We’d be competing with the other LNG the value of the gas in the commercial markets and in other companies in the US Gulf as far as liquefaction and export; an words, they provide market access. Where we own the facili- overpopulated niche in the industry. We’ve got our liquefaction ties, we trade all over the world and where the value is best for projects that we’re working elsewhere, and our liquefaction us is where we will send the gas.” system is designed for offshore use where we operate a robust system in what can be a fairly impactful sea and wind state.” ARRIVING SAFELY, LOOKING AHEAD

Out in the open market, Excelerate examines all options be- According to Mark Lane, there are roughly 500 LNG carri- fore selecting the best course for every cargo and trade. For- ers in existence today. There’s another 120 on order. Along the merly, most LNG was traded point A to point B, but Lane says way, a few have been sent to the breakers for recycling. The that Excelerate develops concepts and arbitrage to creatively LNG industry is 50 years old. In those 50 years, there has nev- make money. For example, in one recent deal, a cargo head- er been a loss of life related to cargo operations, a loss of the ed for Taiwan was swapped for a cargo coming out of Oman ship or loss of a cargo. That encompasses 100 million miles that was going to Spain. Lane says, “We switched the cargo of laden transit and many more in ballast. Lane is, of course, destinations – for operational and business purposes – backed aware of those numbers, but not necessarily tied to them. He out 28 days of shipping and four passages through the Suez says