Second Excelerate Energy LNG Terminal Proposed Off the New England Coast

---

Researched by Industrialinfo.com (Industrial Information Resources, Incorporated; Houston, Texas). Excelerate Energy (The Woodlands, Texas) has begun the initial development phase for its second offshore LNG (liquefied natural gas) terminal in the U.S. The Northeast Gateway Terminal (NGT) will be located off of the coast of Massachusetts, close to Gloucester.

Construction of the company's first terminal, the Gulf of Mexico (GOM) Deepwater Port, located 116 miles off the coast of Louisiana, is nearing completion. The terminal will serve as a model for the second facility. See related September 2, 2004 news article: Excelerate Energy Plans a New Innovative Way of Delivering LNG to the U.S.

There will be several differences, however, between the two LNG terminals. The second terminal, is expected to greatly exceed the $65 million cost of the first terminal by at least $140 million. The NGT will require much more pipeline than the Gulf of Mexico Deepwater Port, due to the lack of sub-sea pipeline infrastructure in the area, and will have dual single turret buoys systems, to allow for a daily capacity of 400 mmscfd, or more. The dual buoy system will be installed to allow for a continuous flow of natural gas. The pipeline for the second terminal will have to be buried and covered, unlike the GOM Deepwater Port.

Permitting applications will be filed in early 2005, and construction is projected to commence as early as the end of 2005. Terminal two is expected to be in service at the end of 2006 and will be supplied by LNG tankers specially designed and fitted with onboard re-gasification equipment. There have been no engineering or construction contracts awarded as of August 2004.