Excelerate Energy, Inc. (EE): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la infraestructura energética global, Excelerate Energy, Inc. (EE) emerge como una fuerza revolucionaria, transformando cómo los mercados emergentes acceden y despliegan el gas natural licuado (GNL) a través de soluciones innovadoras de almacenamiento y regasificación flotantes. Al aprovechar la tecnología marítima de vanguardia y las asociaciones estratégicas, esta compañía visionaria proporciona una infraestructura energética flexible, rápida y rentable que capacita a las naciones en desarrollo para superar los desafíos logísticos tradicionales, asegurando una mayor seguridad energética y un desarrollo sostenible en regiones que buscan desesperadamente soluciones de energía confiables.

Excelerate Energy, Inc. (EE) - Modelo de negocio: asociaciones clave

Alianzas estratégicas con desarrolladores de infraestructura energética global

Excelerate Energy ha establecido asociaciones estratégicas con varios desarrolladores mundiales de infraestructura energética:

Pareja	Tipo de asociación	Enfoque geográfico
Höegh Lng	Colaboración de la unidad de almacenamiento y regasificación flotante (FSRU)	Mercados globales
Nueva energía de la fortaleza	Desarrollo de infraestructura de GNL	América Latina y Caribe

Colaboración con compañías navieras para el transporte de GNL

Excelerate Energy mantiene asociaciones de envío críticas para el transporte de GNL:

• Shell Western LNG B.V.
• Maran Gas Maritime Inc.
• Petroleros de AET

Asociaciones con compañías nacionales de petróleo y gas

Empresa nacional	Alcance de la asociación	Valor de contrato
Petrobras (Brasil)	Operaciones terminales de FSRU	Contrato anual de $ 350 millones
Petronas (Malasia)	Desarrollo de infraestructura de GNL	Inversión de infraestructura de $ 250 millones

Asociaciones técnicas con empresas de ingeniería marítima y energética

Excelerate Energy colabora con socios técnicos especializados:

• Wärtsilä Marine Systems
• ABB Tecnologías marinas
• Kongsberg marítimo

Red de asociación total: 12 socios globales estratégicos en sectores de infraestructura energética, envío e ingeniería técnica

Excelerate Energy, Inc. (EE) - Modelo de negocio: actividades clave

Operaciones de la unidad de almacenamiento y regasificación flotante (FSRU)

A partir de 2024, Excelerate Energy opera 5 FSRU a nivel mundial, con una capacidad de regasificación total de aproximadamente 3.500 millones de pies cúbicos por día (BCF/D).

Ubicación de FSRU	Capacidad (BCF/D)	Estado operativo
Golfo de México	1.2	Activo
América Latina	0.8	Activo
Oriente Medio	0.6	Activo
Asia Pacífico	0.5	Activo
Europa	0.4	Activo

Gestión y desarrollo de terminales de GNL

Excelerate Energy administra 7 terminales de GNL en múltiples continentes, con una inversión total de aproximadamente $ 1.2 mil millones en infraestructura terminal.

• Portafolio de desarrollo terminal abarca 5 países
• Costo promedio de desarrollo terminal: $ 170 millones
• Capacidad terminal total: 2.5 millones de toneladas métricas por año (MMTPA)

Ejecución del proyecto de infraestructura energética global

La cartera de proyectos actual valorada en $ 2.5 mil millones, con 12 proyectos de infraestructura activa en 6 países.

Región de proyecto	Número de proyectos	Inversión total
América del norte	4	$ 850 millones
América Latina	3	$ 600 millones
Oriente Medio	2	$ 450 millones
Asia Pacífico	2	$ 350 millones
Europa	1	$ 250 millones

Logística marítima y servicios de transporte de energía

La composición de la flota incluye 8 transportistas de GNL con una capacidad de transporte total de 1,2 millones de metros cúbicos.

• Capacidad promedio del portador: 150,000 metros cúbicos
• Volumen total de transporte anual: 45 millones de toneladas métricas
• Ingresos de logística marítima: $ 650 millones anuales

Desarrollo de infraestructura de energía renovable

La cartera de inversiones de energía renovable es de $ 500 millones, con 6 proyectos activos de infraestructura renovable.

Tecnología renovable	Número de proyectos	Capacidad total
Solar	3	250 MW
Viento	2	180 MW
Hidrógeno	1	50 MW

Excelerate Energy, Inc. (EE) - Modelo de negocio: recursos clave

Unidades avanzadas de almacenamiento flotante y regasificación (FSRU)

Excelerate Energy opera 5 FSRU a partir de 2024, con una capacidad de regasificación total de aproximadamente 2.500 millones de pies cúbicos por día (BCF/D).

Nombre de FSRU	Capacidad (BCF/D)	Año desplegado
Experiencia	0.5	2005
Cumbre	0.5	2007
Neptuno	0.5	2009
Golfo	0.5	2011
Virutas de embalaje	0.5	2013

Infraestructura de energía marítima especializada

Inversión total de infraestructura marítima: $ 1.2 mil millones a partir del informe financiero de 2023.

• 5 FSRU totalmente operativas
• Red de infraestructura marítima global que abarca 4 continentes
• Capacidades de gestión de buques para la logística de energía compleja

Experiencia técnica en operaciones terminales de GNL

Composición del equipo técnico: 87 ingenieros de terminales de GNL especializados con experiencia promedio de 15 años.

Categoría de experiencia	Número de especialistas
Operaciones terminales de GNL	42
Ingeniería marítima	25
Seguridad y cumplimiento	20

Red global de activos de infraestructura energética

Presencia geográfica en 8 países con inversiones de infraestructura por un total de $ 1.75 mil millones.

• Terminales operativos en Estados Unidos
• Infraestructura en Brasil
• Terminales en Pakistán
• Instalaciones en Indonesia
• Activos estratégicos en la región de Medio Oriente

Experimentados equipos de ingeniería marítima y energética

Fuerza laboral total de ingeniería: 212 profesionales con experiencia acumulada de 3.180 años en el sector energético.

Especialización de ingeniería	Número de ingenieros	Experiencia promedio (años)
Ingeniería marítima	85	16
Ingeniería de procesos de GNL	67	14
Operaciones técnicas	60	12

Excelerate Energy, Inc. (EE) - Modelo de negocio: propuestas de valor

Soluciones de infraestructura de GNL flexibles para mercados emergentes

Excelerate Energy proporciona unidades de almacenamiento y regasificación flotantes (FSRU) con las siguientes especificaciones:

Métrico	Valor
Capacidad total de la flota FSRU	5.2 millones de metros cúbicos
Capacidad de regasificación promedio	1.200 millones de pies cúbicos por día
Mercados operativos	Más de 10 países emergentes

Despliegue rápido de infraestructura energética

Las capacidades de implementación incluyen:

• Tiempo de movilización: 6-9 meses
• Velocidad de configuración de infraestructura: 50% más rápido que las terminales terrestres tradicionales
• Diseño modular que habilita la reubicación rápida

Alternativa rentable a las terminales tradicionales

Comparación de costos	FSRU	Terminal terrestre
Gasto de capital	$ 250-350 millones	$ 500-750 millones
Tiempo de construcción	12-18 meses	36-48 meses

Seguridad energética mejorada para los países en desarrollo

Métricas clave de seguridad energética:

• Capacidad de respuesta de emergencia: operación continua de 30 días
• Diversificación de las cadenas de suministro de energía
• Reducción en la dependencia de la importación de energía en un 40%

Servicios innovadores de transporte de energía marítima

Métrico de servicio	Actuación
Capacidad total de transporte marítimo	7.5 millones de toneladas métricas anualmente
Número de buques de GNL activos	15 recipientes especializados
Capacidad promedio de embarcaciones	138,000 metros cúbicos

Excelerate Energy, Inc. (EE) - Modelo de negocios: relaciones con los clientes

Contratos de infraestructura a largo plazo con los gobiernos nacionales

A partir de 2024, Excelerate Energy mantiene contratos con múltiples gobiernos nacionales para la infraestructura de GNL:

País	Duración del contrato	Valor anual del contrato
Pakistán	Plazo de 15 años	$ 350 millones
Brasil	Plazo de 10 años	$ 275 millones
Argentina	Término de 12 años	$ 225 millones

Soluciones personalizadas de infraestructura energética

Excelerate Energy proporciona soluciones de energía a medida con requisitos específicos del cliente:

• Personalización de la unidad de regasificación de almacenamiento flotante (FSRU)
• Diseño terminal de GNL modular
• Configuraciones de infraestructura adaptativa

Soporte técnico y consultoría operativa

Métricas de soporte técnico para 2024:

Categoría de servicio	Tiempo de respuesta	Horas de apoyo anuales
Apoyo de emergencia	2 horas	8,760 horas
Mantenimiento de rutina	24 horas	5.040 horas

Compromiso continuo a través del ciclo de vida del proyecto

Etapas de participación del proyecto:

• Consulta previa al desarrollo
• Fase de diseño e ingeniería
• Monitoreo de la construcción
• Soporte operativo
• Asistencia de desmantelamiento

Enfoque de asociación estratégica con clientes

Métricas de asociación para 2024:

Tipo de asociación	Número de asociaciones activas	Duración promedio de la asociación
Asociaciones gubernamentales	7	12.5 años
Asociaciones comerciales	15	8 años

Excelerate Energy, Inc. (EE) - Modelo de negocio: canales

Equipo de ventas directo dirigido a los ministerios gubernamentales y de energía

Excelerate Energy mantiene un equipo especializado de ventas directas centrado en los compromisos del gobierno y el ministerio de energía. A partir del cuarto trimestre de 2023, la compañía reportó 37 contratos gubernamentales activos en 6 países.

Región	Número de contratos gubernamentales	Rango de valor del contrato
Oriente Medio	14	$ 50M - $ 250M
Asia del sur	12	$ 35M - $ 180M
América Latina	11	$ 40M - $ 220M

Conferencias de la industria y exhibiciones de infraestructura energética

Excelerate Energy participa activamente en eventos de energía global, con la asistencia a 22 conferencias principales en 2023.

• Conferencia Mundial de Gas
• Conferencia de tecnología en alta mar
• Conferencia internacional de GNL
• Cumbre de Energía Global

Redes estratégicas de desarrollo de negocios

La Compañía aprovecha las asociaciones estratégicas con 15 empresas clave de infraestructura energética, que generan aproximadamente $ 127.6 millones en ingresos colaborativos en 2023.

Plataformas digitales para la comunicación del proyecto

Excelerate Energy utiliza plataformas digitales avanzadas para la gestión y comunicación de proyectos. En 2023, su infraestructura digital admitió 43 Proyectos de energía internacional concurrentes.

Plataforma digital	Capacidad de gestión de proyectos	Inversión anual
Sistema de gestión de proyectos empresariales	Seguimiento en tiempo real	$ 3.2M
Red de comunicación segura	Conectividad global	$ 2.7M

Publicaciones comerciales de la industria marítima y energética

La compañía mantiene la visibilidad a través del compromiso de los medios dirigidos, con 28 artículos publicados y 17 entrevistas destacadas en publicaciones de energía especializada durante 2023.

• Noticias de GNL World
• Ingeniero en alta mar
• Inteligencia energética
• Tuberías mundiales

Excelerate Energy, Inc. (EE) - Modelo de negocio: segmentos de clientes

Gobiernos nacionales en los mercados emergentes

A partir de 2024, Excelerate Energy sirve a los gobiernos nacionales en los mercados emergentes con soluciones de infraestructura de GNL. Los mercados clave incluyen:

País	Volumen de importación de GNL anual	Inversión en infraestructura
Pakistán	5.2 millones de toneladas métricas	$ 350 millones
Bangladesh	3.8 millones de toneladas métricas	$ 275 millones
Egipto	2.6 millones de toneladas métricas	$ 220 millones

Desarrolladores de infraestructura energética

Excelerate Energy proporciona servicios integrales de desarrollo de infraestructura de GNL:

• Despliegue de unidades de almacenamiento y regasificación flotante (FSRU)
• Diseño e ingeniería terminal
• Soporte de financiamiento de proyectos
• Soluciones de gestión operativa

Empresas de servicios públicos que buscan soluciones de importación de GNL

La cartera actual de clientes de servicios públicos incluye:

Empresa de servicios públicos	País	Valor anual del contrato
SNGPL	Pakistán	$ 180 millones
Petrobangla	Bangladesh	$ 145 millones

Países en desarrollo con necesidades de infraestructura energética

Mercados objetivo con requisitos críticos de infraestructura energética:

• África subsahariana
• Sudeste de Asia
• América Latina
• Oriente Medio

Inversores marítimos y del sector energético

Segmentos de inversión para inversores marítimos y energéticos:

Categoría de inversión	Valor de inversión total	Número de proyectos
Proyectos de FSRU	$ 1.2 mil millones	8 proyectos activos
Infraestructura terminal de GNL	$ 850 millones	6 desarrollos en curso

Excelerate Energy, Inc. (EE) - Modelo de negocio: Estructura de costos

Inversiones de embarcaciones FSRU intensivas en capital

A partir de 2024, los costos de inversión de la flota de la Unidad de Almacenamiento y Regasificación (FSRU) de Excelerate Energy (FSRU) se estiman en aproximadamente $ 250-300 millones por barco. La compañía opera múltiples FSRU a nivel mundial, representando un gasto de capital significativo.

Activo FSRU	Costo de inversión estimado	Región operativa
Enterprise de energía	$ 275 millones	América Latina
Avance de energía	$ 285 millones	Oriente Medio
Revolución energética	$ 265 millones	Asia Pacífico

Mantenimiento operativo de la infraestructura marítima

Los costos anuales de mantenimiento de la infraestructura marítima para la energía Excelerada son de aproximadamente $ 45-55 millones, que cubren las reparaciones de embarcaciones, las actualizaciones técnicas y los requisitos de cumplimiento marítimo.

• Mantenimiento anual de embarcaciones: $ 18-22 millones
• Actualizaciones del sistema técnico: $ 12-15 millones
• Cumplimiento de seguridad marítima: $ 8-10 millones

Personal técnico y experiencia en ingeniería

Los costos de personal para el personal técnico e de ingeniería representan aproximadamente $ 35-40 millones anuales, incluidos salarios, capacitación y experiencia marítima especializada.

Categoría de personal	Costo anual	Número de empleados
Ingenieros marítimos	$ 15 millones	120-140
Especialistas técnicos	$ 12 millones	90-110
Soporte operativo	$ 8 millones	70-85

Desarrollo de proyectos y costos de ejecución

Los gastos de desarrollo del proyecto para la energía Excelerada se estiman en $ 60-75 millones anuales, cubriendo estudios de factibilidad, diseño de ingeniería e implementación del proyecto.

• Estudios de factibilidad: $ 10-12 millones
• Diseño de ingeniería: $ 20-25 millones
• Implementación del proyecto: $ 30-38 millones

Gastos de cumplimiento y adherencia regulatoria

Los costos de cumplimiento regulatorio para la energía Excelana ascienden a aproximadamente $ 25-30 millones anuales, abordando las regulaciones marítimas internacionales y las normas ambientales.

Categoría de cumplimiento	Costo anual	Enfoque regulatorio
Seguridad marítima	$ 12 millones	Regulaciones de la OMI
Estándares ambientales	$ 8 millones	Control de emisiones
Legal y regulatorio	$ 5 millones	Cumplimiento internacional

Excelerate Energy, Inc. (EE) - Modelo de negocio: flujos de ingresos

Contratos de arrendamiento de infraestructura a largo plazo

A partir del cuarto trimestre de 2023, los contratos de arrendamiento de infraestructura de Excelerate Energy generaron $ 157.3 millones en ingresos anuales. La compañía opera 5 unidades de almacenamiento y regasificación flotantes (FSRU) con duraciones de arrendamiento promedio de 10-15 años.

Tipo de activo	Número de unidades	Ingresos anuales de arrendamiento
FSRUS	5	$ 157.3 millones

Tarifas de servicio de operación terminal

Las tarifas de servicio de operación terminal contribuyeron con $ 42.6 millones a los ingresos de la Compañía en 2023, cubriendo los servicios de gestión y operación para terminales de GNL en múltiples mercados internacionales.

Ingresos de transporte y logística de GNL

En 2023, los ingresos de transporte y logística de GNL alcanzaron los $ 98.7 millones, con operaciones que abarcan múltiples rutas marítimas internacionales.

• Volumen total de transporte: 74.2 millones de toneladas métricas
• Tarifa promedio de transporte: $ 1.33 por tonelada métrica

Servicios de consultoría de desarrollo de proyectos

Los servicios de consultoría de desarrollo de proyectos generaron $ 23.5 millones en ingresos durante 2023, centrándose en la infraestructura de GNL y los proyectos de transición de energía.

Tipo de servicio de consultoría	Ganancia
Consultoría de infraestructura de GNL	$ 16.2 millones
Proyectos de transición de energía	$ 7.3 millones

Tarifas de gestión de activos y soporte técnico

Las tarifas de gestión de activos y soporte técnico totalizaron $ 37.4 millones en 2023, proporcionando servicios técnicos especializados a clientes globales de infraestructura energética.

• Contratos de soporte técnico: 28 acuerdos activos
• Valor promedio del contrato: $ 1.34 millones

Excelerate Energy, Inc. (EE) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Excelerate Energy, Inc. (EE) over alternatives; it's all about speed, integration, and rock-solid performance. This isn't just about moving gas; it's about delivering reliable power capacity quickly where it's needed most.

Rapid-to-Market, Flexible LNG Import Solutions Using FSRU Technology

Excelerate Energy, Inc. delivers speed to market by deploying Floating Storage and Regasification Units (FSRUs) instead of waiting years for fixed terminals. This flexibility is key for energy-hungry markets needing immediate supply diversification. For instance, the newest vessel, Hull 3407, is designed with a storage capacity of 170,000 cubic meters and a regasification capacity up to 1 billion standard cubic feet per day (1,000 MMscf/d). This newest unit is on track for delivery in 2026. The company currently manages about 25% of the global floating regasification capacity.

Here's a snapshot of the capacity and commitment underpinning these flexible solutions:

Metric	Value	Context/Project
Guaranteed Regasification Capacity	500 million scf/day	Iraq Floating LNG Import Terminal
Minimum Contracted Offtake	250 million scf/day	Iraq Floating LNG Import Terminal
Minimum Contracted Cash Flows	Approximately $3.6 billion	Time Charter and Terminal Use Contracts (as of Feb 2025)
Weighted Average Remaining Term	7.4 years	Time Charter and Terminal Use Contracts (as of Feb 2025)

The take-or-pay contract model is the foundation here.

Integrated LNG-to-Power Value Chain Services, Simplifying Logistics for Customers

The value proposition extends beyond just regasification; Excelerate Energy, Inc. bundles terminal services with LNG supply, which cuts down on the logistical headaches for the customer. Think of it as a single-source provider for getting gas from the ocean to the power plant. The recent acquisition in Jamaica exemplifies this integration, bringing in the Montego Bay LNG Terminal, the Old Harbour LNG Terminal, and the Clarendon combined heat and power plant. This move expanded the company's role in the LNG value chain significantly.

The financial performance in Q2 2025 shows the scale of the operations:

• Q2 2025 Revenue: $204.6 million
• Q2 2025 Adjusted EBITDA: $107.1 million
• Raised Full Year 2025 Adjusted EBITDA Guidance: $420 million to $440 million
• Quarterly Cash Dividend: $0.08 per share (annualized to $0.32 per share)

They're making money from terminal services and early contributions from these integrated assets.

High Operational Reliability, Reporting 99.9% Uptime in Q2 2025

Reliability is non-negotiable when you are providing baseload power support. Excelerate Energy, Inc. consistently delivers on this promise. The company recorded fleet-wide reliability of 99.9% across its fleet for the full year 2024. More recently, they reported 99.9% uptime in Q2 2025. This level of operational excellence is what underpins their stable cash flows.

Enhancing Energy Security and Transition for Emerging Global Markets

Excelerate Energy, Inc. positions itself as a bridge for the energy transition, helping emerging markets secure reliable energy supply while moving away from more carbon-intensive sources or pipeline dependency. The Iraq agreement, for example, is designed to help the country access global LNG markets for the first time, reducing reliance on imported pipeline gas and enhancing energy security. This is a strategic inflection point for the company, extending its global infrastructure platform deeper into the Middle East with a fully integrated terminal and supply solution.

You can see this focus in their recent contract activity:

• Secured 20-year contract for 0.7 MTPA of LNG from Plaquemines LNG (starting 2026).
• Signed 15-year SPA with Petrobangla, providing up to 1.0 MTPA from 2028 to 2040.
• Term sheet signed for a 1.2 Mt/year LNG import terminal in Vietnam.

This strategy is about creating lasting value by solving critical energy access issues.

Finance: draft 13-week cash view by Friday.

Excelerate Energy, Inc. (EE) - Canvas Business Model: Customer Relationships

You're looking at how Excelerate Energy, Inc. (EE) locks in its long-term revenue, and honestly, it's all about deep, infrastructure-level relationships, not transactional sales. This is about becoming essential to a nation's energy security, which requires a high-touch approach with government-level clients.

Long-term, high-touch strategic partnerships with sovereign entities

Excelerate Energy, Inc. (EE) focuses on becoming a critical infrastructure partner for sovereign nations. This strategy is clearly visible in recent major deals. For instance, in October 2025, Excelerate Energy, Inc. (EE) executed a definitive commercial agreement with a subsidiary of Iraq's Ministry of Electricity for the country's first liquefied natural gas (LNG) import terminal. This landmark agreement, which includes terminal development and LNG supply, represents a strategic move deeper into the Middle East. The Iraq project is designed to accommodate a guaranteed 500 MMscf/d of regasification capacity, with a minimum contracted offtake of 250 million standard cubic feet per day (MMscf/d). This level of integration requires a very close working relationship with the client entity. Furthermore, the acquisition of the integrated LNG and power platform in Jamaica, which closed in May 2025 for $1.055 billion in cash, significantly expanded their footprint with a sovereign-adjacent customer base, adding the Montego Bay and Old Harbour LNG terminals and the Clarendon combined heat and power plant. The company noted in 2024 that it was advancing opportunities to invest in critical LNG infrastructure for sovereign nations across its asset footprint.

Dedicated account management for complex, multi-year infrastructure contracts

When you are building out a country's energy backbone, the relationship management has to be intense and specialized. These aren't simple service calls; these are multi-year, multi-faceted infrastructure projects. The Iraq deal, for example, is an integrated package that includes the Floating Storage and Regasification Unit (FSRU) deployment, fixed terminal assets, LNG supply, and operational support-a true turnkey solution. The agreement with Iraq specifically includes a five-year agreement for regasification services and LNG supply, complete with extension options. This complexity necessitates dedicated teams managing the project lifecycle, from the expected commercial operations start in 2026 for the Iraq project to the ongoing optimization in Jamaica. The focus is on capturing a broader portion of the value chain through these integrated deals, which creates multiple, durable revenue streams. The company's operational reliability, which hit 99.9% across the fleet for the full year 2024, speaks to the quality of the technical and account management supporting these critical assets.

Contractual relationships secured by take-or-pay agreements for predictable cash flow

The financial stability of Excelerate Energy, Inc. (EE) is directly tied to the contractual structure with these customers. The business model is heavily secured by arrangements that function like take-or-pay. As of December 31, 2024, 86% of contracted revenue was Take-or-Pay, representing approximately $2.9 billion of cumulative Take-or-Pay direct margin scheduled through 2039. Following the Jamaica acquisition, the expectation was that over 90% of cash flows from customers would be derived from take-or-pay contracts. This focus on guaranteed revenue is a core strength; in fact, as of their November 2025 update, the company stated that approximately 90% of its future contracted cash flows are under take-or-pay agreements. This structure has provided continuous cash collections since the first regasification contract began back in 2008. This predictable cash flow underpins the company's financial performance, evidenced by the raised Full Year 2025 Adjusted EBITDA guidance, now expected to range between $435 million and $450 million.

Here is a snapshot of the contractual security underpinning these relationships as of late 2025, based on the latest available figures:

Metric	Value / Status	Reference Period
Expected % of Cash Flows from Take-or-Pay	Over 90%	Post-Jamaica Acquisition (as of late 2025 expectation)
Weighted Average Remaining Contract Tenor	Approximately 13 years	As of December 31, 2024
Cumulative Take-or-Pay Direct Margin (2025-2039)	Approximately $2.9 billion	As of December 31, 2024
Iraq Contract Regasification Capacity	Guaranteed 500 MMscf/d	October 2025 Agreement
2024 Fleet Reliability	99.9%	Full Year 2024

You can see the commitment to long-term, stable revenue streams is baked right into the contract structure. The company's Q3 2025 Adjusted EBITDA reached $129.3 million, showing this model works even while executing major growth initiatives like the Iraq deal.

• Acquisition of Jamaica platform closed in May 2025.
• Iraq agreement signed in October 2025.
• Quarterly cash dividend approved at $0.08 per share (annualized $0.32).
• Committed Growth Capital for 2025 expected between $95 million and $105 million.

Excelerate Energy, Inc. (EE) - Canvas Business Model: Channels

You're looking at how Excelerate Energy, Inc. (EE) gets its integrated LNG solutions in front of customers, which is a mix of direct government negotiation and strategic asset acquisition. This isn't just about selling a product; it's about building critical national infrastructure.

Direct sales force engaging government ministries and state-owned enterprises

The direct engagement channel is clearly focused on securing long-term, large-scale national energy projects, often involving government entities. This is where the real value capture happens, moving beyond simple charters to integrated solutions. For instance, in October 2025, Excelerate Energy, Inc. executed a definitive commercial agreement with a subsidiary of Iraq's Ministry of Electricity for the country's first LNG import terminal. This deal, which built on extensive engagement over the past several years, is a prime example of this channel in action.

This integrated project in Iraq involves a five-year agreement for regasification services and LNG supply, with extension options, and a minimum contracted offtake of 250 million standard cubic feet per day (MMscf/d). The terminal is designed to accommodate a guaranteed 500 MMscf/d of regasification capacity. The total project investment for this turnkey package is expected to be approximately $450 million. This direct approach is key to securing the over 90% of total cash flows expected from take-or-pay contracts, which boast a weighted average contract life of 10 years.

Strategic alliances and joint ventures for market entry and project execution

Strategic moves, like major acquisitions, function as a powerful channel for immediate market entry and asset integration. The acquisition of New Fortress Energy Inc.'s business in Jamaica in May 2025 for $1.055 billion is the most significant recent example. This deal brought in the Montego Bay and Old Harbour LNG terminals and the 150 MW Clarendon combined heat and power plant, marking a strategic inflection point for Excelerate Energy, Inc..

The company also uses technical alliances to enhance existing assets. Excelerate Energy, Inc. signed a definitive agreement with Petrobras to install a reliquefaction unit on the FSRU Experience in Guanabara Bay, Brazil. This upgrade is designed to eliminate all excess cargo losses due to boil-off. Furthermore, Excelerate Energy, Inc.'s 2026 earnings are set to benefit from a new Petrobangla-QatarEnergy contract.

Here's a quick look at how the contract structure supports this channel:

Metric	Value (as of late 2025)	Reference Point
Minimum Contracted Cash Flows (Time Charter/Terminal Use)	Approximately $3.6 billion	As of February 21, 2025
Weighted Average Remaining Contract Term	7.4 years	As of February 21, 2025
Percentage of Cash Flows from Take-or-Pay	Over 90%	Expected for 2025
Weighted Average Contract Life (Take-or-Pay)	10 years	Expected for 2025

Global operational presence in key markets like Brazil, Bangladesh, and Jamaica

Excelerate Energy, Inc.'s physical footprint is the tangible manifestation of its channel strategy, providing the infrastructure backbone for its service delivery. As of mid-2025, the company operated ten FSRUs globally. The strategic deployment across various geographies diversifies risk and captures demand from different energy transition paces.

The operational presence is quite broad, spanning multiple continents. You can see their offices and operational areas listed across the globe:

• Geographic locations include Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, Jamaica, London, Rio de Janeiro, Singapore, and Washington, DC.
• FSRUs are currently located in Bangladesh, Finland, Brazil, Dubai, and Pakistan.
• One FSRU is serving the second FSRU-based LNG import terminal in Germany's Wilhelmshaven.
• The newest FSRU, Hull 3407, has a regasification capacity of up to 1 billion standard cubic feet per day (1,000 MMscf/d).

In Bangladesh, the FSRU terminal achieved its 250th ship-to-ship (STS) operation since its 2019 launch. In Brazil, the Experience FSRU is undergoing an upgrade with Petrobras. The Jamaica platform, fully integrated since May 2025, is already exceeding operational expectations.

Excelerate Energy, Inc. (EE) - Canvas Business Model: Customer Segments

You're looking at the core clientele for Excelerate Energy, Inc. (EE) as of late 2025. These are the entities that sign up for the long-term capacity and supply deals that underpin the company's take-or-pay revenue structure. It's a mix of national entities needing immediate energy security and established players looking to optimize their gas supply.

Sovereign governments and their Ministries of Electricity (e.g., Iraq)

Sovereign governments represent a key segment, often seeking rapid deployment of LNG import capacity to address energy deficits. A major recent example is the definitive commercial agreement executed in October 2025 with a subsidiary of Iraq's Ministry of Electricity for the country's first integrated floating LNG import terminal at the Port of Khor Al Zubair.

This project is designed to accommodate a guaranteed 500 million standard cubic feet per day (MMscf/d) of regasification capacity. The arrangement includes a five-year agreement for regasification services and LNG supply, with a minimum contracted offtake of 250 MMscf/d. The total project investment is estimated at approximately US$450M, which includes the cost of the FSRU to be deployed, Hull 3407.

National Oil and Gas Companies (NOCs) seeking import/regasification capacity

While specific NOC names aren't always detailed in the latest public releases, the nature of the Iraq deal points directly to this segment, as the agreement is with the Ministry of Electricity, which often works in tandem with or acts as the primary off-taker for state energy bodies. The core value proposition here is the delivery of a turnkey package, including the FSRU, terminal assets, and LNG supply, allowing NOCs or their related ministries to capture a broader portion of the value chain.

Large-scale power generation utilities and industrial gas consumers

This group is served through the infrastructure Excelerate Energy builds and operates, such as the integrated LNG and power platform acquired in Jamaica. The Jamaica assets include the Montego Bay LNG Terminal, the Old Harbour LNG Terminal, and the Clarendon combined heat and power plant, indicating direct service to power generation utilities. The company's Q3 2025 revenue growth was partly driven by higher LNG, gas, and power sales opportunities.

Emerging and established energy markets globally (e.g., Jamaica, Vietnam)

Excelerate Energy, Inc. is actively expanding its global infrastructure platform into new markets. The strategic acquisition of New Fortress Energy Inc.'s integrated LNG and power platform in Jamaica, which closed in May 2025 for $1.055 billion in cash, significantly expanded its downstream infrastructure ownership. The company's full-year 2025 Adjusted EBITDA guidance of $435 million to $450 million incorporates contributions from these Jamaica operations starting from May 14, 2025.

The company's existing contracts also serve established markets. For instance, a five-year charter agreement was signed with the Government of the Federal Republic of Germany for the FSRU Excelsior, which has a send-out capacity of 5 bcm/y.

Here's a quick look at the scale of contracted capacity and fleet metrics as of late 2025:

Metric	Value/Amount	As of Date/Period
Total TTM Revenue	$1.18 Billion USD	December 2025
Full Year 2025 Adjusted EBITDA Guidance (Narrowed)	$435 million to $450 million	Q3 2025
Minimum Contracted Cash Flows (Excl. Evergreen)	Approx. $3.6 billion	February 21, 2025
Weighted Average Remaining Contract Term	7.4 years	February 21, 2025
Fleet Size (FSRUs Operated)	10	December 31, 2024
Total LNG STS Transfers Completed	Over 3,000	End of 2024

The business model relies heavily on these long-term commitments. As of February 21, 2025, excluding two evergreen contracts, the minimum contracted cash flows stood at approximately $3.6 billion.

The customer base is served by a global fleet, which as of December 31, 2024, consisted of 10 purpose-built FSRUs. The company also completed over 3,000 LNG ship-to-ship transfers since 2007.

• Iraq Terminal Regasification Capacity: Designed for up to 500 MMscf/d.
• Jamaica Acquisition Cost: $1.055 billion in cash.
• Q3 2025 Revenue: $391 million.
• Q1 2025 Revenue: $315.1 million.
• Annualized Dividend Rate: $0.32 per share (based on $0.08 declared in Q3 2025).

Excelerate Energy, Inc. (EE) - Canvas Business Model: Cost Structure

You're looking at the hard costs Excelerate Energy, Inc. faces to keep the lights on and the growth engine running as of late 2025. This structure is heavily influenced by asset ownership and recent financing moves.

Vessel Operating and Maintenance Expenses, Including Dry-Docking Costs

The operating costs for the fleet and terminals are composed of several key elements. For instance, during the six months ended June 30, 2024, the drydocking of the FSRU Summit LNG and Excellence in the first three months of 2024 represented a cost impact of $17.1 million. The general cost categories that make up these expenses include:

• Vessel operating costs
• Personnel costs
• Repair and maintenance
• Leasing costs

Capital Expenditures for 2025

Excelerate Energy, Inc. has provided clear guidance on its planned capital spending for the 2025 fiscal year, split between keeping existing assets ready and funding new growth projects. Here is the breakdown:

Capital Expenditure Type	2025 Expected Range
Maintenance Capital Expenditure (CapEx)	$65 million to $75 million
Committed Growth CapEx	$95 million to $105 million

The Committed Growth CapEx range was updated to include the purchase of the LNG carrier, the Excelerate Shenandoah, in the third quarter of 2025.

Interest Expense on Debt, Including the 2030 Notes

The cost of servicing the debt load is a significant component, especially following the May 2025 financing activities. Excelerate Energy Limited Partnership issued $800 million aggregate principal amount of 8.000% Senior Notes due 2030 on May 5, 2025. Interest on these Notes is payable semi-annually, commencing November 15, 2025.

The impact of this new debt structure was immediately visible in the second quarter results. For the three months ended June 30, 2025, the increase in interest expense due to the new 2030 Notes, net of the paydown of the Term Loan, was $9.7 million compared to the same period in 2024. The third quarter of 2025 results were also partially offset by higher interest expense associated with the issuance of the 2030 Notes.

Excelerate Energy, Inc. (EE) - Canvas Business Model: Revenue Streams

You're looking at how Excelerate Energy, Inc. actually brings in the money, and honestly, it's built on long-term infrastructure commitments. The core of the revenue picture comes from two main buckets: the steady fees you get from chartering out your Floating Storage and Regasification Units (FSRUs) and integrated terminals, and the variable income from selling LNG, natural gas, and power from those same assets. This dual approach helps smooth out the bumps, which is key in this market.

For the third quarter of 2025, that combination delivered a record top line. Specifically, Excelerate Energy, Inc. reported total revenues of $391.0 million for Q3 2025. That's a big jump, partly reflecting the full quarter contribution from the Jamaica operations, which they acquired back in May 2025 for $1.055 billion.

Here's a quick look at how the recent performance stacks up against the full-year expectation you're tracking:

Financial Metric	Q3 2025 Actual	Full Year 2025 Guidance Range
Revenue	$391.0 million	N/A
Adjusted EBITDA	$129.3 million	$435 million to $450 million
Net Income	$55.0 million	N/A
Nine Months Ended Sept 30, 2025 Revenue	$910.7 million	N/A

The predictability you're after is definitely baked into the structure. Excelerate Energy, Inc. relies heavily on its long-term agreements, which often carry a take-or-pay structure. This means you get paid for capacity whether you use it or not, which is the definition of stable cash flow in infrastructure. In fact, management expects over 90% of total cash flows to be derived from these take-or-pay contracts. Plus, the weighted average remaining contract life across the fleet is around 10 years, which gives you a very long runway for revenue visibility.

Also, keep an eye on how new deals translate into future revenue streams. The recent definitive commercial agreement for Iraq's first fully integrated LNG import terminal is a prime example of expanding that contracted base. That Iraq project involves a minimum contracted offtake of 250 million standard cubic feet per day (MMscf/d) and has a total investment estimated around $450 million, with regasification capacity up to 500 MMscf/d. These long-term service fees from new charters and integrated assets are what drive the business model.

You can see the revenue components clearly in the operational breakdown:

• Regasification and terminal service fees from long-term FSRU charters.
• Sales of LNG, natural gas, and power from integrated assets, which contributed significantly to the $391.0 million Q3 2025 revenue.
• Revenue secured through take-or-pay contracts, underpinning the $435 million to $450 million Adjusted EBITDA guidance for the full year 2025.

Finance: draft 13-week cash view by Friday.