EXMAR commits to LNG innovation, entering into a strategic alliance with Excelerate Energy of the United States

The turmoil in the US Energy market at the end of 2001 following the events of September 11th and the collapse of the energy giant Enron, the exit by EXMAR's partner El Paso from the LNG business and the restructuring of EXMAR's joint venture with MOL led to the signing in December of an agreement with the newly formed US company Excelerate Energy. This included the chartering of the newbuild DSME Hull No 2208 EXCELSIOR  and Excelerate Energy's takeover of the shipbuilding contract of DSME Hull No 2218 EXCELLENCE. Both these vessels were to be equipped with the world's first marine regasification plants on LNG carriers. Developed subsequently by EXMAR and Excelerate Energy in collaboration with Korean shipbuilder DSME , the EnergyBridgeTM system would revolutionise LNG Carrier operations three years later with the delivery of the EXCELSIOR.