Excelerate Energy, Inc. (EE): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico da infraestrutura de energia global, a Excelerate Energy, Inc. (EE) surge como uma força revolucionária, transformando como os mercados emergentes acordam e implantam gás natural liquefeito (GNL) por meio de soluções inovadoras de armazenamento e regasificação flutuantes. Ao alavancar a tecnologia marítima de ponta e as parcerias estratégicas, essa empresa visionária fornece infraestrutura energética flexível, rápida e econômica que capacita os países que desenvolvem as nações para superar os desafios logísticos tradicionais, garantindo maior segurança energética e desenvolvimento sustentável em regiões, buscando desesperadamente soluções de energia.

Excelerate Energy, Inc. (EE) - Modelo de negócios: Parcerias -chave

Alianças estratégicas com desenvolvedores globais de infraestrutura de energia

A Excelerate Energy estabeleceu parcerias estratégicas com vários desenvolvedores globais de infraestrutura de energia:

Parceiro	Tipo de parceria	Foco geográfico
Höegh Lng	Colaboração de unidade de armazenamento e regasificação flutuante (FSRU)	Mercados globais
Nova Fortaleza Energia	Desenvolvimento de infraestrutura de GNL	América Latina e Caribe

Colaboração com companhias de navegação para transporte de GNL

A Excelerate Energy mantém parcerias críticas de remessa para transporte de GNL:

• Shell Western GNL B.V.
• Maran Gas Maritime Inc.
• Aet tanques

Parcerias com empresas nacionais de petróleo e gás

Companhia Nacional	Escopo da parceria	Valor do contrato
Petrobras (Brasil)	Operações do terminal FSRU	Contrato anual de US $ 350 milhões
Petronas (Malásia)	Desenvolvimento de infraestrutura de GNL	Investimento de infraestrutura de US $ 250 milhões

Parcerias técnicas com empresas de engenharia marítima e de energia

A Excelerate Energy colabora com parceiros técnicos especializados:

• Sistemas marinhos Wärtsilä
• Tecnologias marinhas da ABB
• Kongsberg Maritime

Rede de parceria total: 12 parceiros globais estratégicos em setores de infraestrutura de energia, remessa e engenharia técnica

Excelerate Energy, Inc. (EE) - Modelo de negócios: Atividades -chave

Operações de unidade de armazenamento e regasificação flutuantes (FSRU)

A partir de 2024, a Excelerate Energy opera 5 fsrus globalmente, com uma capacidade total de regasificação de aproximadamente 3,5 bilhões de pés cúbicos por dia (BCF/D).

Localização da FSRU	Capacidade (BCF/D)	Status operacional
Golfo do México	1.2	Ativo
América latina	0.8	Ativo
Médio Oriente	0.6	Ativo
Ásia -Pacífico	0.5	Ativo
Europa	0.4	Ativo

Gerenciamento e desenvolvimento de terminais de GNL

A Excelerate Energy gerencia 7 terminais de GNL em vários continentes, com um investimento total de aproximadamente US $ 1,2 bilhão em infraestrutura terminal.

• O portfólio de desenvolvimento de terminais abrange 5 países
• Custo médio de desenvolvimento terminal: US $ 170 milhões
• Capacidade total do terminal: 2,5 milhões de toneladas por ano (MMTPA)

Execução do projeto de infraestrutura de energia global

O portfólio de projetos atual avaliado em US $ 2,5 bilhões, com 12 projetos de infraestrutura ativa em 6 países.

Região do projeto	Número de projetos	Investimento total
América do Norte	4	US $ 850 milhões
América latina	3	US $ 600 milhões
Médio Oriente	2	US $ 450 milhões
Ásia -Pacífico	2	US $ 350 milhões
Europa	1	US $ 250 milhões

Serviços de logística marítima e transporte energético

A composição da frota inclui 8 portadores de GNL com capacidade total de transporte de 1,2 milhão de metros cúbicos.

• Capacidade média da transportadora: 150.000 metros cúbicos
• Volume anual de transporte anual: 45 milhões de toneladas métricas
• Receita de logística marítima: US $ 650 milhões anualmente

Desenvolvimento de infraestrutura energética renovável

O portfólio de investimentos em energia renovável é de US $ 500 milhões, com 6 projetos ativos de infraestrutura renovável.

Tecnologia renovável	Número de projetos	Capacidade total
Solar	3	250 MW
Vento	2	180 MW
Hidrogênio	1	50 mw

Excelerate Energy, Inc. (EE) - Modelo de negócios: Recursos -chave

Unidades avançadas de armazenamento e regasificação flutuantes (FSRUS)

A Excelerate Energy opera 5 fsrus a partir de 2024, com uma capacidade total de regasificação de aproximadamente 2,5 bilhões de pés cúbicos por dia (BCF/D).

Nome da FSRU	Capacidade (BCF/D)	Ano implantado
Experiência	0.5	2005
Cume	0.5	2007
Netuno	0.5	2009
Golfo	0.5	2011
Excelsior	0.5	2013

Infraestrutura de energia marítima especializada

Investimento total de infraestrutura marítima: US $ 1,2 bilhão a partir de 2023 Relatório Financeiro.

• 5 fsrus totalmente operacionais
• Rede de infraestrutura marítima global que abrange 4 continentes
• Capacidades de gerenciamento de embarcações para logística de energia complexa

Experiência técnica em operações de terminal de GNL

Composição da equipe técnica: 87 engenheiros de terminais de GNL especializados com experiência média de 15 anos.

Categoria de especialização	Número de especialistas
Operações de terminais de GNL	42
Engenharia Marítima	25
Segurança e conformidade	20

Rede global de ativos de infraestrutura de energia

Presença geográfica em 8 países com investimentos em infraestrutura, totalizando US $ 1,75 bilhão.

• Terminais operacionais nos Estados Unidos
• Infraestrutura no Brasil
• Terminais no Paquistão
• Instalações na Indonésia
• Ativos estratégicos na região do Oriente Médio

Equipes de engenharia marítima e de energia experientes

Força de trabalho total de engenharia: 212 profissionais com experiência cumulativa de 3.180 anos no setor de energia.

Especialização de engenharia	Número de engenheiros	Experiência média (anos)
Engenharia Marítima	85	16
Engenharia de processo de GNL	67	14
Operações técnicas	60	12

Excelerate Energy, Inc. (EE) - Modelo de Negócios: Proposições de Valor

Soluções flexíveis de infraestrutura de GNL para mercados emergentes

A Excelerate Energy fornece unidades flutuantes de armazenamento e regasificação (FSRUs) com as seguintes especificações:

Métrica	Valor
Capacidade total da frota FSRU	5,2 milhões de metros cúbicos
Capacidade média de regasificação	1,2 bilhão de pés cúbicos por dia
Mercados operacionais	Mais de 10 países emergentes

Rápida implantação de infraestrutura energética

Os recursos de implantação incluem:

• Tempo de mobilização: 6-9 meses
• Velocidade de configuração da infraestrutura: 50% mais rápido que os terminais tradicionais de base terrestre
• Design modular que permite realocação rápida

Alternativa econômica aos terminais tradicionais

Comparação de custos	Fsru	Terminal terrestre
Gasto de capital	US $ 250-350 milhões	US $ 500-750 milhões
Tempo de construção	12-18 meses	36-48 meses

Segurança energética aprimorada para países em desenvolvimento

Métricas principais de segurança energética:

• Capacidade de resposta de emergência: 30 dias de operação contínua
• Diversificação de cadeias de fornecimento de energia
• Redução na dependência de importação de energia em 40%

Serviços inovadores de transporte de energia marítima

Métrica de serviço	Desempenho
Capacidade total de transporte marítimo	7,5 milhões de toneladas métricas anualmente
Número de navios de GNL ativos	15 embarcações especializadas
Capacidade média dos vasos	138.000 metros cúbicos

Excelerate Energy, Inc. (EE) - Modelo de Negócios: Relacionamentos do Cliente

Contratos de infraestrutura de longo prazo com governos nacionais

A partir de 2024, a Excelerate Energy mantém contratos com vários governos nacionais para infraestrutura de GNL:

País	Duração do contrato	Valor anual do contrato
Paquistão	Mandato de 15 anos	US $ 350 milhões
Brasil	Mandato de 10 anos	US $ 275 milhões
Argentina	Mandato de 12 anos	US $ 225 milhões

Soluções de infraestrutura de energia personalizadas

A Excelerate Energy fornece soluções de energia personalizadas com requisitos específicos do cliente:

• Personalização da Unidade de Regasificação de Armazenamento Flutuante (FSRU)
• Projeto de terminal de GNL modular
• Configurações de infraestrutura adaptativa

Suporte técnico e consultoria operacional

Métricas de suporte técnico para 2024:

Categoria de serviço	Tempo de resposta	Horário de apoio anual
Suporte de emergência	2 horas	8.760 horas
Manutenção de rotina	24 horas	5.040 horas

Engajamento contínuo através do ciclo de vida do projeto

Etapas de engajamento do projeto:

• Consulta de pré-desenvolvimento
• Fase de design e engenharia
• Monitoramento da construção
• Suporte operacional
• Assistência ao descomissionamento

Abordagem de parceria estratégica com clientes

Métricas de parceria para 2024:

Tipo de parceria	Número de parcerias ativas	Duração média da parceria
Parcerias do governo	7	12,5 anos
Parcerias comerciais	15	8 anos

Excelerate Energy, Inc. (EE) - Modelo de Negócios: Canais

Equipe direta de vendas direcionando ministérios governamentais e de energia

A Excelerate Energy mantém uma equipe de vendas direta especializada focada nos compromissos do governo e do ministério de energia. A partir do quarto trimestre de 2023, a empresa relatou 37 contratos governamentais ativos em 6 países.

Região	Número de contratos governamentais	Intervalo de valor do contrato
Médio Oriente	14	$ 50m - $ 250M
Sul da Ásia	12	US $ 35M - US $ 180M
América latina	11	$ 40M - US $ 220M

Conferências do setor e exposições de infraestrutura de energia

A Excelerate Energy participa ativamente de eventos de energia global, com participação em 22 grandes conferências em 2023.

• Conferência Mundial de Gás
• Conferência de Tecnologia Offshore
• Conferência Internacional de LNG
• Cúpula de Energia Global

Redes estratégicas de desenvolvimento de negócios

A empresa aproveita parcerias estratégicas com 15 principais empresas de infraestrutura de energia, gerando aproximadamente US $ 127,6 milhões em receita colaborativa em 2023.

Plataformas digitais para comunicação do projeto

A Excelerate Energy utiliza plataformas digitais avançadas para gerenciamento e comunicação de projetos. Em 2023, sua infraestrutura digital suportada 43 projetos de energia internacional simultânea.

Plataforma digital	Capacidade de gerenciamento de projetos	Investimento anual
Sistema de Gerenciamento de Projetos da Enterprise	Rastreamento em tempo real	US $ 3,2M
Rede de comunicação segura	Conectividade global	US $ 2,7M

Publicações comerciais da indústria marítima e de energia

A empresa mantém a visibilidade por meio do engajamento direcionado da mídia, com 28 artigos publicados e 17 entrevistas em publicações especializadas em energia durante 2023.

• Notícias mundiais de GNL
• Engenheiro offshore
• Inteligência energética
• Pipelines mundiais

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

Governos nacionais em mercados emergentes

A partir de 2024, a Excelerate Energy atende aos governos nacionais em mercados emergentes com soluções de infraestrutura de GNL. Os principais mercados incluem:

País	Volume anual de importação de GNL	Investimento de infraestrutura
Paquistão	5,2 milhões de toneladas métricas	US $ 350 milhões
Bangladesh	3,8 milhões de toneladas métricas	US $ 275 milhões
Egito	2,6 milhões de toneladas métricas	US $ 220 milhões

Desenvolvedores de infraestrutura de energia

A Excelerate Energy fornece serviços abrangentes de desenvolvimento de infraestrutura de GNL:

• Implantação de unidades de armazenamento e regasificação flutuante (FSRU)
• Projeto e engenharia do terminal
• Suporte de financiamento do projeto
• Soluções de gerenciamento operacional

Empresas de serviços públicos que buscam soluções de importação de GNL

O portfólio atual de clientes do utilitário inclui:

Empresa de serviços públicos	País	Valor anual do contrato
Sngpl	Paquistão	US $ 180 milhões
Petrobangla	Bangladesh	US $ 145 milhões

Países em desenvolvimento com necessidades de infraestrutura de energia

Mercados -alvo com requisitos críticos de infraestrutura de energia:

• África subsaariana
• Sudeste Asiático
• América latina
• Médio Oriente

Investidores do setor marítimo e de energia

Segmentos de investimento para investidores marítimos e de energia:

Categoria de investimento	Valor total de investimento	Número de projetos
Projetos de FSRU	US $ 1,2 bilhão	8 projetos ativos
Infraestrutura do terminal de GNL	US $ 850 milhões	6 desenvolvimentos em andamento

Excelerate Energy, Inc. (EE) - Modelo de negócios: estrutura de custos

Investimentos de embarcações de FSRU intensivas em capital

A partir de 2024, os custos de investimento em Frota Flutuante de Armazenamento e Regasificação (FSRU) da Excelerate Energy são estimados em aproximadamente US $ 250-300 milhões por embarcação. A empresa opera vários FSRUs globalmente, representando uma despesa de capital significativa.

FSRU Asset	Custo estimado de investimento	Região operacional
Energy Enterprise	US $ 275 milhões	América latina
Avanço energético	US $ 285 milhões	Médio Oriente
Revolução energética	US $ 265 milhões	Ásia -Pacífico

Manutenção operacional da infraestrutura marítima

Os custos anuais de manutenção da infraestrutura marítima para a Excelerate Energy são de aproximadamente US $ 45-55 milhões, cobrindo reparos de embarcações, atualizações técnicas e requisitos de conformidade marítima.

• Manutenção anual de embarcações: US $ 18-22 milhões
• Atualizações do sistema técnico: US $ 12-15 milhões
• Conformidade de segurança marítima: US $ 8 a 10 milhões

Pessoal técnico e experiência em engenharia

Os custos de pessoal para a equipe técnica e de engenharia representam aproximadamente US $ 35-40 milhões anualmente, incluindo salários, treinamento e experiência marítima especializada.

Categoria de pessoal	Custo anual	Número de funcionários
Engenheiros Marítimos	US $ 15 milhões	120-140
Especialistas técnicos	US $ 12 milhões	90-110
Suporte operacional	US $ 8 milhões	70-85

Desenvolvimento de projetos e custos de execução

As despesas de desenvolvimento de projetos para energia excelerada são estimadas em US $ 60-75 milhões anualmente, cobrindo estudos de viabilidade, design de engenharia e implementação do projeto.

• Estudos de viabilidade: US $ 10-12 milhões
• Design de engenharia: US $ 20-25 milhões
• Implementação do projeto: US $ 30-38 milhões

Despesas de conformidade e aderência regulatória

Os custos de conformidade regulamentares para excelerar a energia equivalem a aproximadamente US $ 25 a 30 milhões anualmente, abordando os regulamentos marítimos internacionais e os padrões ambientais.

Categoria de conformidade	Custo anual	Foco regulatório
Segurança marítima	US $ 12 milhões	Regulamentos da IMO
Padrões ambientais	US $ 8 milhões	Controle de emissões
Legal e regulatório	US $ 5 milhões	Conformidade internacional

Excelerate Energy, Inc. (EE) - Modelo de negócios: fluxos de receita

Contratos de leasing de infraestrutura de longo prazo

No quarto trimestre 2023, os contratos de leasing de infraestrutura da Excelerate Energy geraram US $ 157,3 milhões em receita anual. A empresa opera 5 unidades de armazenamento e regasificação flutuantes (FSRUs) com durações médias de arrendamento de 10 a 15 anos.

Tipo de ativo	Número de unidades	Receita anual de arrendamento
Fsrus	5	US $ 157,3 milhões

Taxas de serviço de operação de terminal

As taxas de serviço de operação do terminal contribuíram com US $ 42,6 milhões para a receita da Companhia em 2023, cobrindo serviços de gestão e operacional para terminais de GNL em vários mercados internacionais.

Receitas de transporte e logística de GNL

Em 2023, as receitas de transporte e logística de GNL atingiram US $ 98,7 milhões, com operações abrangendo várias rotas marítimas internacionais.

• Volume total de transporte: 74,2 milhões de toneladas métricas
• Taxa média de transporte: US $ 1,33 por tonelada métrica

Serviços de consultoria de desenvolvimento de projetos

Os serviços de consultoria de desenvolvimento de projetos geraram US $ 23,5 milhões em receita durante 2023, com foco na infraestrutura de GNL e em projetos de transição de energia.

Tipo de serviço de consultoria	Receita
Consultoria de infraestrutura de GNL	US $ 16,2 milhões
Projetos de transição de energia	US $ 7,3 milhões

Taxas de gerenciamento de ativos e suporte técnico

As taxas de gerenciamento de ativos e suporte técnico totalizaram US $ 37,4 milhões em 2023, fornecendo serviços técnicos especializados a clientes globais de infraestrutura de energia.

• Contratos de suporte técnico: 28 acordos ativos
• Valor médio do contrato: US $ 1,34 milhão

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.