Energy: The Big Question to Solve
Humans have been harnessing power from different energy sources since the beginning of time. Today, in a continuously evolving and growing world, the global demand for energy is surging.
Liquefied Natural Gas (LNG) is the cleanest fossil fuel, and it is playing a pivotal role in shaping the global energy landscape. It addresses key challenges in energy security, environmental sustainability, and economic development, while serving as a crucial bridge in the transition toward renewable energy. Until renewables become widely accessible and affordable, LNG remains the most viable solution to the world's energy crisis.
Empowering Countries with Energy Security
Energy security remains an important topic for people around the world. Excelerate Energy (NYSE:EE) leads the LNG industry in advancing solutions to deliver gas the last mile, ensuring reliable access to energy where it's needed most. By delivering regasified LNG, Excelerate Energy is changing the way the world accesses cleaner, more reliable energy, thereby benefiting hundreds of millions of people around the world. The company is committed to providing integrated LNG solutions to emerging markets and cleaner energy alternatives for regions that predominantly rely on coal.
Figure 1: LNG Terminal at Moheshkhali "FSRU Excellence"
This narrative embarks on a voyage through the transformative impact of Excelerate Energy's LNG solutions on the pillars of global energy security, environmental sustainability, and economic development. From its inception, Excelerate has been steadfast in its commitment to meet evolving energy needs worldwide. To support these efforts, the Company has a strategic presence in pivotal locations such as Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, London, Rio de Janeiro, Singapore, and Washington, DC,
With a leading portfolio of floating LNG terminals worldwide and a track record of safely developing, building, and efficiently operating complex projects, Excelerate is delivering real energy solutions to the countries that need it the most.
As the leader in floating storage and regasification units (FSRUS) and downstream LNG infrastructure, Excelerate has safely delivered more than 7,400 billion cubic feet of natural gas through 16 LNG regasification terminals. With over 60 years of combined operational experience, the company has a legacy of solving global energy needs. The company offers a full range of services including FSRUS, LNG import infrastructure development, and LNG and natural gas supply.
Delivering Clean Energy to a Developing Wonder
Bangladesh is a nation at the crossroads of progress and sustainability. As one of the world's fastest-growing economies, Bangladesh grapples with the imperative of meeting its increasing energy demands while safeguarding its natural environment. Amidst this backdrop, Excelerate Energy serves as a catalyst for change.
Figure 2 Natural Gas Supply Chain
Excelerate supports Bangladesh's quest for energy security and environmental resilience. With innovative LNG solutions at its core, Excelerate helps to empower Bangladesh to navigate the delicate balance between progress and sustainability. From powering industrial plants to bolstering power generation, this presence in Bangladesh is more than a business venture; it is a testament to its commitment to fueling progress while preserving the planet for future generations.
Moheshkhali Floating LNG Terminal
In Bangladesh, Excelerate Energy has helped the economy accelerate through its two floating LNG terminals. Excelerate achieved a milestone on August 18, 2018, with the commissioning of the Moheshkhali Floating LNG (MLNG) terminal, marking the beginning of Bangladesh's inaugural LNG import facility. The terminal provides up to 600 million standard cubic feet of gas per day (MMscf/d) of regasification capacity, promoting power reliability, industrial development, and job creation in Bangladesh. The MLNG terminal not only bolsters the country's energy security but also spurs economic growth and industrial development. The terminal is the world's first fully integrated turnkey floating LNG terminal. This state-of-the-art facility serves as a beacon of progress, ushering in a new era of sustainable energy consumption and economic prosperity.
Figure 3: Ship-to-Ship Transfer
Creating Employment Opportunities for Bangladeshi Mariners: An integral look towards a better tomorrow
As Bangladesh's economy grows, expanding employment remains vital. Beyond supplying LNG, Excelerate has contributed to economic development by creating jobs, particularly in the maritime sector. Partnering with the Bangladesh Marine Academy, Excelerate supports local seafarers and offers global career opportunities through its fleet. In 2020, the company made history by recruiting the first female Bangladeshi marine cadet aboard an FSRU, advancing gender inclusion in the traditionally male-dominated industry.
Committed to the Community and the Environment
Excelerate Energy goes beyond energy provision by actively engaging in community development and environmental stewardship. Through tree planting, beach cleanups, and a strong environmental risk management program, the company supports resource conservation and sustainability. In partnership with local organizations and agencies, Excelerate implements initiatives in education, healthcare, disaster response, and socio-economic empowerment, reflecting its commitment to holistic, responsible energy solutions.
Environment Protection Initiatives
• Excelerate is a proud sponsor of Short Film Lab, which helps to empower youth to develop their filmmaking skills while simultaneously increasing environmental awareness.
• Excelerate has planted over 30,000 mangroves across four acres at Zero Point, Moheshkhali Island in Cox's Bazar over the past three years, working with the local community and officials to combat coastal erosion.
• Excelerate employees from multiple offices joined local communities and officials to remove over 5,000 kg of waste from Moheshkhali Beach. A separate cleanup was also conducted at Parki Beach, Chittagong, in collaboration with Bangladesh Marine Academy.
Healthcare Initiatives
• In partnership with the Hope Foundation, Excelerate Energy has opened the first phase of the Excelerate Hope Hospital in Kutubjom, Moheshkhali. The 17,280 sq. ft. facility has started outpatient services and will expand into a 30-bed hospital.
• Excelerate, in partnership with U.S.-Bangladesh Business Council members and Project C.U.R.E., supported the airlift of vital COVID-19 medical supplies to Bangladesh, including 60 oxygen concentrators, 20 ventilators, 80 transformers, and 29 protective masks.
• Excelerate periodically arranges general health and eye checkups for the students of Moheshkhali Island.
Education Initiatives
• Excelerate Futures: Global Leadership and Skills Development. This program allows students and young professionals from Bangladesh to earn professional certificates online through Cornell University's eCornell platform.
• Excelerate distributed over 2,500 school bags and supplies to the students in the fishermen village of Ghotibhanga in Moheshkhali.
Community Skill Development Training
• Excelerate Energy completed a sewing training initiative in Moheshkhali, Bangladesh, aimed at empower- ing women through financial independence. The program provided women with sewing machines and training, enabling them to create income-generating opportunities.
• Excelerate facilitated welding training to 10 local people of Moheshkhali Island through a three-month course in an institution at Fotikchori.
Disaster Response Initiatives
• To demonstrate compassion and community support, Excelerate distributed 2,500 blankets to aid those fishermen community affected by harsh winter conditions in Ghotibhanga village of Moheshkhali.
Following the June 2022 Sitakunda container depot explosion, Excelerate Energy donated to the Fire Service Welfare Trust to support families of the fallen and injured firefighters.
• Following the June 2022 Sitakunda container depot explosion, Excelerate Energy donated to the Fire Service Welfare Trust to support families of the fallen and injured firefighters.
Figure 4: (Clockwise) Tree Plantation at Moheshkhali, Beach Cleaning, Blanket Distribution, Launching of Sewing Training, School Bag Distribution and inauguration of Excelerate Hope Hospital Moheshkhali.
Excelerate's holistic approach to the energy question exemplifies the transformative power of sustainable energy solutions in driving socio-economic progress worldwide. With a focus on innovation, sustainability, and community engagement, Excelerate is not only reshaping the global energy sector but also laying the foundation for a more resilient, equitable, and sustainable future for Bangladesh and its people. This reflects the ethos of the company, its far-reaching influence, and its pivotal role in shaping the landscape of a world where energy is not just a commodity but a catalyst for progress, prosperity, and a greener tomorrow.
By leveraging LNG as a catalyst for growth and sustainability, Excelerate is driving innovation in the energy sector while empowering nations like Bangladesh to overcome 21st-century challenges and emerge stronger and more resilient than ever.
