Exceller Energy, Inc. (EE): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'infrastructure énergétique mondiale, Excerate Energy, Inc. (EE) apparaît comme une force révolutionnaire, transformant comment les marchés émergents accèdent et déploient du gaz naturel liquéfié (GNL) grâce à des solutions innovantes de stockage et de réglage flottantes. En tirant parti de la technologie maritime de pointe et des partenariats stratégiques, cette société visionnaire fournit une infrastructure énergétique flexible, rapide et rentable qui permet aux pays en développement de surmonter les défis logistiques traditionnels, garantissant une amélioration de la sécurité énergétique et du développement durable dans les régions à la recherche de solutions d'électricité fiables.

Exceller Energy, Inc. (EE) - Modèle d'entreprise: partenariats clés

Alliances stratégiques avec des développeurs mondiaux d'infrastructure énergétique

Exceller Energy a établi des partenariats stratégiques avec plusieurs développeurs mondiaux d'infrastructures énergétiques:

Partenaire	Type de partenariat	Focus géographique
Höegh lng	Collaboration des unités de stockage et de regasfication flottantes (FSRU)	Marchés mondiaux
Nouvelle énergie de forteresse	Développement d'infrastructures de GNL	L'Amérique latine et les Caraïbes

Collaboration avec les compagnies maritimes pour le transport de GNL

Exceller Energy maintient des partenariats d'expédition critiques pour le transport de GNL:

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

Partenariats avec les sociétés nationales pétrolières et gazières

Compagnie nationale	Portée du partenariat	Valeur du contrat
Petrobras (Brésil)	Opérations terminales FSRU	Contrat annuel de 350 millions de dollars
Petronas (Malaisie)	Développement d'infrastructures de GNL	250 millions de dollars d'investissement dans l'infrastructure

Partenariats techniques avec des entreprises maritimes et génie de l'énergie

Exceller Energy collabore avec des partenaires techniques spécialisés:

• Systèmes marins wärtsilä
• ABB Marine Technologies
• Kongsberg maritime

Réseau de partenariat total: 12 partenaires mondiaux stratégiques à travers les secteurs de l'infrastructure énergétique, de l'expédition et de l'ingénierie technique

Exceller Energy, Inc. (EE) - Modèle d'entreprise: activités clés

Opérations de l'unité de stockage et de régulation flottante (FSRU)

En 2024, Encereate Energy exploite 5 FSRU dans le monde, avec une capacité de regasfication totale d'environ 3,5 milliards de pieds cubes par jour (BCF / J).

Emplacement FSRU	Capacité (BCF / D)	Statut opérationnel
Golfe du Mexique	1.2	Actif
l'Amérique latine	0.8	Actif
Moyen-Orient	0.6	Actif
Asie-Pacifique	0.5	Actif
Europe	0.4	Actif

Gestion et développement du terminal de GNL

Excelerate Energy gère 7 terminaux de GNL sur plusieurs continents, avec un investissement total d'environ 1,2 milliard de dollars en infrastructure terminale.

• Le portefeuille de développement terminal s'étend sur 5 pays
• Coût moyen de développement du terminal: 170 millions de dollars
• Capacité terminale totale: 2,5 millions de tonnes métriques par an (MMTPA)

Exécution du projet d'infrastructure énergétique mondiale

Le portefeuille de projets actuel évalué à 2,5 milliards de dollars, avec 12 projets d'infrastructure actifs dans 6 pays.

Région du projet	Nombre de projets	Investissement total
Amérique du Nord	4	850 millions de dollars
l'Amérique latine	3	600 millions de dollars
Moyen-Orient	2	450 millions de dollars
Asie-Pacifique	2	350 millions de dollars
Europe	1	250 millions de dollars

Services de logistique maritime et de transport d'énergie

La composition de la flotte comprend 8 transporteurs de GNL avec une capacité de transport totale de 1,2 million de mètres cubes.

• Capacité du transporteur moyen: 150 000 mètres cubes
• Volume total du transport annuel: 45 millions de tonnes métriques
• Revenus logistiques maritimes: 650 millions de dollars par an

Développement d'infrastructures d'énergie renouvelable

Le portefeuille d'investissement en énergies renouvelables s'élève à 500 millions de dollars, avec 6 projets d'infrastructures renouvelables actives.

Technologies renouvelables	Nombre de projets	Capacité totale
Solaire	3	250 MW
Vent	2	180 MW
Hydrogène	1	50 MW

Exceller Energy, Inc. (EE) - Modèle d'entreprise: Ressources clés

Unités avancées de stockage et de régulation flottantes (FSRU)

EXCELERATE L'énergie fonctionne 5 FSRU à partir de 2024, avec une capacité de regasfication totale d'environ 2,5 milliards de pieds cubes par jour (BCF / J).

Nom FSRU	Capacité (BCF / D)	Année déployée
Expérience	0.5	2005
Sommet	0.5	2007
Neptune	0.5	2009
Golfe	0.5	2011
Excelsior	0.5	2013

Infrastructure énergétique maritime spécialisée

Investissement total des infrastructures maritimes: 1,2 milliard de dollars au cours du rapport financier 2023.

• 5 FSRUS entièrement opérationnels
• Réseau mondial d'infrastructure maritime couvrant 4 continents
• Capacités de gestion des navires pour la logistique énergétique complexe

Expertise technique dans les opérations du terminal de GNL

Composition de l'équipe technique: 87 ingénieurs de terminaux de GNL spécialisés avec une expérience moyenne de 15 ans.

Catégorie d'expertise	Nombre de spécialistes
Opérations de terminal de GNL	42
Génie maritime	25
Sécurité et conformité	20

Réseau mondial d'actifs d'infrastructure énergétique

Présence géographique dans 8 pays avec des investissements dans les infrastructures totalisant 1,75 milliard de dollars.

• Terminaux opérationnels aux États-Unis
• Infrastructure au Brésil
• Terminaux au Pakistan
• Installations en Indonésie
• Actifs stratégiques dans la région du Moyen-Orient

Des équipes de génie maritime et énergétique expérimentées

Total de travail d'ingénierie: 212 professionnels ayant une expérience cumulative de 3 180 ans dans le secteur de l'énergie.

Spécialisation de l'ingénierie	Nombre d'ingénieurs	Expérience moyenne (années)
Génie maritime	85	16
Ingénierie du processus de GNL	67	14
Opérations techniques	60	12

Exceller Energy, Inc. (EE) - Modèle d'entreprise: propositions de valeur

Solutions d'infrastructure de GNL flexibles pour les marchés émergents

Exceller l'énergie fournit des unités de stockage et de regasfication flottantes (FSRU) avec les spécifications suivantes:

Métrique	Valeur
Capacité totale de la flotte FSRU	5,2 millions de mètres cubes
Capacité de regasfication moyenne	1,2 milliard de pieds cubes par jour
Marchés opérationnels	10+ pays émergents

Déploiement rapide des infrastructures énergétiques

Les capacités de déploiement comprennent:

• Temps de mobilisation: 6 à 9 mois
• Vitesse de configuration des infrastructures: 50% plus rapidement que les terminaux terrestres traditionnels
• Conception modulaire permettant une relocalisation rapide

Alternative rentable aux terminaux traditionnels

Comparaison des coûts	Fsru	Terminal terrestre
Dépenses en capital	250 à 350 millions de dollars	500 à 750 millions de dollars
Temps de construction	12-18 mois	36-48 mois

Sécurité énergétique améliorée pour les pays en développement

Mesures clés de la sécurité énergétique:

• Capacité d'intervention d'urgence: 30 jours de fonctionnement continu
• Diversification des chaînes d'approvisionnement énergétiques
• Réduction de la dépendance à l'importation d'énergie de 40%

Services de transport d'énergie maritime innovants

Métrique de service	Performance
Capacité totale de transport maritime	7,5 millions de tonnes métriques par an
Nombre de navires de GNL actifs	15 navires spécialisés
Capacité moyenne des navires	138 000 mètres cubes

Exceller Energy, Inc. (EE) - Modèle d'entreprise: relations avec les clients

Contrats d'infrastructures à long terme avec les gouvernements nationaux

En 2024, Excelerate Energy maintient des contrats avec plusieurs gouvernements nationaux pour les infrastructures de GNL:

Pays	Durée du contrat	Valeur du contrat annuel
Pakistan	Trimestre de 15 ans	350 millions de dollars
Brésil	Trimestre de 10 ans	275 millions de dollars
Argentine	Trimestre de 12 ans	225 millions de dollars

Solutions d'infrastructure énergétique personnalisées

Exceller Energy fournit des solutions d'énergie sur mesure avec des exigences spécifiques du client:

• Personnalisation de l'unité de régulation de stockage flottante (FSRU)
• Conception de terminal modulaire de GNL
• Configurations d'infrastructure adaptative

Support technique et conseil opérationnel

Métriques de support technique pour 2024:

Catégorie de service	Temps de réponse	Heures de soutien annuelles
Support d'urgence	2 heures	8 760 heures
Maintenance de routine	24 heures	5 040 heures

Engagement continu tout au long du cycle de vie du projet

Étapes d'engagement du projet:

• Consultation préalable
• Phase de conception et d'ingénierie
• Surveillance de la construction
• Soutien opérationnel
• Assistance à la déclassement

Approche du partenariat stratégique avec les clients

Métriques de partenariat pour 2024:

Type de partenariat	Nombre de partenariats actifs	Durée du partenariat moyen
Partenariats gouvernementaux	7	12,5 ans
Partenariats commerciaux	15	8 ans

Exceller Energy, Inc. (EE) - Modèle d'entreprise: canaux

Équipe de vente directe ciblant le gouvernement et les ministères de l'énergie

Exceller Energy maintient une équipe de vente directe spécialisée axée sur les engagements du gouvernement et du ministère de l'Énergie. Au quatrième trimestre 2023, la société a signalé 37 contrats gouvernementaux actifs dans 6 pays.

Région	Nombre de contrats gouvernementaux	Plage de valeurs de contrat
Moyen-Orient	14	50 M $ - 250 M $
Asie du Sud	12	35 M $ - 180 M $
l'Amérique latine	11	40 M $ - 220 M $

Conférences de l'industrie et expositions d'infrastructures énergétiques

Exceller Energy participe activement à des événements énergétiques mondiaux, avec une fréquentation à 22 conférences majeures en 2023.

• Conférence mondiale au gaz
• Conférence de technologie offshore
• Conférence internationale de GNL
• Sommet mondial de l'énergie

Réseaux de développement commercial stratégique

La société tire parti des partenariats stratégiques avec 15 sociétés clés d'infrastructures énergétiques, générant environ 127,6 millions de dollars de revenus collaboratifs en 2023.

Plateformes numériques pour la communication du projet

Excellery Energy utilise des plateformes numériques avancées pour la gestion et la communication de projet. En 2023, leur infrastructure numérique a soutenu 43 projets énergétiques internationaux simultanés.

Plate-forme numérique	Capacité de gestion de projet	Investissement annuel
Système de gestion de projet d'entreprise	Suivi en temps réel	3,2 M $
Réseau de communication sécurisé	Connectivité mondiale	2,7 M $

Publications commerciales de l'industrie maritime et de l'énergie

La société maintient la visibilité grâce à l'engagement des médias ciblé, avec 28 articles publiés et 17 entretiens en vedette dans des publications d'énergie spécialisées en 2023.

• News World News
• Ingénieur offshore
• Intelligence énergétique
• Pipelines mondiaux

Exceller Energy, Inc. (EE) - Modèle d'entreprise: segments de clientèle

Gouvernements nationaux sur les marchés émergents

En 2024, Excelerate Energy sert les gouvernements nationaux sur les marchés émergents avec des solutions d'infrastructure de GNL. Les marchés clés comprennent:

Pays	Volume annuel d'importation de GNL	Investissement en infrastructure
Pakistan	5,2 millions de tonnes métriques	350 millions de dollars
Bangladesh	3,8 millions de tonnes métriques	275 millions de dollars
Egypte	2,6 millions de tonnes métriques	220 millions de dollars

Développeurs d'infrastructures énergétiques

Exceller Energy fournit des services complets de développement des infrastructures de GNL:

• Déploiement des unités de stockage et de régulation flottantes (FSRU)
• Conception du terminal et ingénierie
• Support de financement du projet
• Solutions de gestion opérationnelle

Les sociétés de services publics à la recherche de solutions d'importation de GNL

Le portefeuille de clients utilitaire actuel comprend:

Entreprise de services publics	Pays	Valeur du contrat annuel
Sngpl	Pakistan	180 millions de dollars
Pétrobangla	Bangladesh	145 millions de dollars

Pays en développement ayant des besoins en infrastructures énergétiques

Marchés cibles avec des exigences d'infrastructure énergétique critiques:

• Afrique subsaharienne
• Asie du Sud-Est
• l'Amérique latine
• Moyen-Orient

Investisseurs du secteur maritime et de l'énergie

Segments d'investissement pour les investisseurs maritimes et énergétiques:

Catégorie d'investissement	Valeur d'investissement totale	Nombre de projets
Projets FSRU	1,2 milliard de dollars	8 projets actifs
Infrastructure terminale de GNL	850 millions de dollars	6 Développements en cours

Exceller Energy, Inc. (EE) - Modèle d'entreprise: Structure des coûts

Investissements du navire FSRU à forte intensité de capital

En 2024, les coûts d'investissement de la flotte de stockage et de regasification flottants de l'énergie (FSRU) de l'énergie sont estimés à environ 250 à 300 millions de dollars par navire. La société exploite plusieurs FSRS dans le monde, représentant une dépense en capital importante.

Actif FSRU	Coût d'investissement estimé	Région opérationnelle
Entreprise énergétique	275 millions de dollars	l'Amérique latine
Avance énergétique	285 millions de dollars	Moyen-Orient
Révolution de l'énergie	265 millions de dollars	Asie-Pacifique

Entretien opérationnel des infrastructures maritimes

Les coûts annuels de maintenance des infrastructures maritimes pour l'exceller de l'énergie sont d'environ 45 à 55 millions de dollars, couvrant les réparations des navires, les améliorations techniques et les exigences de conformité maritime.

• Entretien annuel des navires: 18 à 22 millions de dollars
• Mises à niveau du système technique: 12 à 15 millions de dollars
• Conformité à la sécurité maritime: 8 à 10 millions de dollars

Personnel technique et expertise en génie

Les coûts du personnel pour le personnel technique et d'ingénierie représentent environ 35 à 40 millions de dollars par an, y compris les salaires, la formation et l'expertise maritime spécialisée.

Catégorie de personnel	Coût annuel	Nombre d'employés
Ingénieurs maritimes	15 millions de dollars	120-140
Spécialistes techniques	12 millions de dollars	90-110
Soutien opérationnel	8 millions de dollars	70-85

Coûts de développement et d'exécution du projet

Les dépenses de développement du projet pour Excelerate Energy sont estimées à 60 à 75 millions de dollars par an, couvrant les études de faisabilité, la conception de l'ingénierie et la mise en œuvre du projet.

• Études de faisabilité: 10 à 12 millions de dollars
• Conception d'ingénierie: 20 à 25 millions de dollars
• Mise en œuvre du projet: 30 à 38 millions de dollars

Frais de conformité et d'adhésion réglementaire

Les coûts de conformité réglementaire pour Excelerate Energy s'élèvent à environ 25 à 30 millions de dollars par an, abordant les réglementations maritimes internationales et les normes environnementales.

Catégorie de conformité	Coût annuel	Concentration réglementaire
Sécurité maritime	12 millions de dollars	Règlements OMI
Normes environnementales	8 millions de dollars	Contrôle des émissions
Juridique et réglementaire	5 millions de dollars	Conformité internationale

Exceller Energy, Inc. (EE) - Modèle d'entreprise: Strots de revenus

Contrats de location à long terme des infrastructures

Au quatrième trimestre 2023, Exceller les contrats de location d'infrastructures de l'énergie ont généré 157,3 millions de dollars de revenus annuels. L'entreprise exploite 5 unités de stockage et de regasification flottantes (FSRU) avec des durées de location moyennes de 10 à 15 ans.

Type d'actif	Nombre d'unités	Revenus de location annuelle
Fsrus	5	157,3 millions de dollars

Frais de service de fonctionnement du terminal

Les frais de service d'exploitation du terminal ont contribué 42,6 millions de dollars aux revenus de la société en 2023, couvrant les services de gestion et opérationnels pour les terminaux de GNL sur plusieurs marchés internationaux.

Revenus de transport et de logistique de GNL

En 2023, les revenus de transport et de logistique du GNL ont atteint 98,7 millions de dollars, les opérations couvrant plusieurs routes maritimes internationales.

• Volume total du transport: 74,2 millions de tonnes métriques
• Frais de transport moyen: 1,33 $ par tonne métrique

Services de conseil au développement de projets

Project Development Consulting Services a généré 23,5 millions de dollars de revenus en 2023, en se concentrant sur les projets d'infrastructure de GNL et de transition énergétique.

Type de service de conseil	Revenu
Conseil d'infrastructure de GNL	16,2 millions de dollars
Projets de transition énergétique	7,3 millions de dollars

Frais de gestion des actifs et de support technique

Les frais de gestion des actifs et de support technique ont totalisé 37,4 millions de dollars en 2023, offrant des services techniques spécialisés aux clients mondiaux des infrastructures énergétiques.

• Contrats de support technique: 28 accords actifs
• Valeur du contrat moyen: 1,34 million de dollars

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.