Excelerate Energy, Inc.
excelerateenergy.comWhat Do They Do?
Sells natural gas, liquefied natural gas and power to state-owned energy companies, transmission operators and industrial users, and operates terminals that convert liquefied natural gas into natural gas.
10-K for FY2025, filed Feb 27, 2026Excelerate owns and operates LNG and natural gas infrastructure assets. Once natural gas is liquefied, it needs an inlet into the countries…View ↗
Our terminal services customers are a mix of state owned energy companies, transmission operators and industrial users of natural gas. Our…View ↗
Excelerate also generates revenue by utilizing our natural gas infrastructure assets to sell natural gas, LNG, power, and steam. We source…View ↗
How Do They Make Money?
Most revenue comes from gas, LNG, power and steam sales under long-term agreements with minimum purchases; customers are generally invoiced after the contracted product or service is provided. Terminal customers pay fixed fees for capacity and operating services under long-term agreements.
10-K for FY2025, filed Feb 27, 2026LNG, gas and power revenues are earned through vertically integrated LNG sourcing, transportation, regasification, and power generation. We…View ↗
Cost of LNG, gas and power is comprised of expenses incurred in sourcing LNG, transporting LNG and natural gas, regasifying LNG, and…View ↗
Under most LNG, gas and power revenue contracts, invoicing occurs once the Company’s performance obligations have been satisfied, at which…View ↗
Terminal services revenues are earned via our offshore infrastructure assets that are leased to customers and from the related technical…View ↗
Our terminal services are provided to customers for a predetermined period of time at a specified rate per day, which is typically fixed.…View ↗
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10-K for FY2025, filed Feb 27, 2026
FY2025 revenue by product or service ↗
$1.2B
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10-K for FY2025, filed Feb 27, 2026
$1.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
FSRU and terminal services
Recurring
10-K for FY2025, filed Feb 27, 2026 |
49%
FY2022: 18%
|
FSRU and terminal services, FY2025
$596.6M Sources
|
Recurring |
|
Gas sales
Sold outright
10-K for FY2025, filed Feb 27, 2026 |
51%
FY2022: 82%
|
Gas sales, FY2025
$631.6M Sources
|
Sold outright |
Who Are Their Customers?
They contract for terminal services under long-term take-or-pay agreements, while gas, LNG, power and steam are sold through customer contracts in Bangladesh, Iraq, Jamaica and the United States.
10-K for FY2025, filed Feb 27, 2026Our terminal services customers are a mix of state owned energy companies, transmission operators and industrial users of natural gas. Our…View ↗
Our terminal services are provided to customers for a predetermined period of time at a specified rate per day, which is typically fixed.…View ↗
Our sales of natural gas, LNG, power and steam are largely conducted through our terminals and other owned assets. We currently have…View ↗
How Are They Changing?
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Aug 5, 2026
Signs seven-year charter to redeploy an FSRU to a Colombia terminal
The FSRU Express is expected to begin service at the new import terminal in the first quarter of 2027.
Sources
8-K, filed Aug 5, 2026
In June 2026, Excelerate executed a seven-year time charter party agreement with Sociedad Portuaria Puerto Bahia, a subsidiary of Frontera…View ↗
Growing. Revenue grew 38% in 4 years, from $888.6M in FY2021 to $1.2B in FY2025, about 8% a year.
Jamaican power operations
The older report described natural gas and LNG sales through terminals and plans for LNG-to-power projects; the latest adds acquired Jamaican LNG terminals and a combined heat and power plant supplying natural gas, power and steam.
10-K for FY2022, filed Mar 29, 2023 10-K for FY2025, filed Feb 27, 2026In May 2025, we closed the acquisition of 100% of the interests in New Fortress Energy Inc.’s business in Jamaica (the “Acquisition”).…View ↗
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