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Excelerate in leaseback agreement

Agreement allows company to repurchase FSRU Experience at end of 10-year deal

Floating liquefaction player Excelerate Energy has entered a long-term sale and leaseback agreement for the giant floating storage and regasification unit Experience.

Excelerate will sell and lease the FSRU from China’s CMB Financial Leasing for 10 years and buy it back when the term is complete.

The value of the deal was not disclosed.

The Experience was commissioned in 2014 as the industry’s largest FSRU. It is currently under long-term charter to Petrobras, providing regasification services to Brazil.