Latest news with #OliverSimpson
Yahoo
17-03-2025
- Business
- Yahoo
Excelerate Energy, Petrovietnam Gas to partner on US LNG supplies
US-based liquefied natural gas (LNG) company Excelerate Energy has entered into a memorandum of understanding (MOU) with Petrovietnam Gas (PV Gas) on US LNG supplies. Under the MOU, both companies will collaborate on securing a reliable and stable supply of LNG sourced from the US as early as 2026. The deal also requires the companies to assess PV Gas' LNG supply needs and establish a framework for LNG sourcing. Excelerate Energy is a provider of floating storage and regasification units and LNG solutions. The company provides a full range of services across the LNG value chain. PV Gas is a Vietnam-based company engaged in extracting, refining, distributing and transporting natural gas and related products. The partnership aims to leverage both companies' capabilities to deliver cost-effective and reliable energy solutions in response to Vietnam's growing energy demands. Excelerate executive vice-president and chief commercial officer Oliver Simpson said: 'We are pleased to partner with PV Gas on this significant opportunity. This collaboration underscores our commitment to helping Vietnam meet its growing energy needs while also providing a downstream market for US LNG supply. Together, we look forward to contributing to a sustainable and secure energy future for Vietnam.' In January 2024, Jadestone Energy signed a heads of agreement (HOA) with PV Gas to develop the NDUM gas fields offshore Vietnam. This agreement represents a key step towards commercialising the fields, setting a daily contract quantity of 80 million standard cubic feet under a take-or-pay arrangement. The NDUM fields are located in shallow waters off Vietnam's south-west coast, within the Block 46/07 and Block 51 production sharing contracts. "Excelerate Energy, Petrovietnam Gas to partner on US LNG supplies" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
14-03-2025
- Business
- Yahoo
Excelerate Energy and PV Gas Announce Strategic Partnership for U.S. LNG Supply
THE WOODLANDS, Texas, March 14, 2025--(BUSINESS WIRE)--Excelerate Energy, Inc. (NYSE: EE) (the "Company" or "Excelerate"), a leading provider of floating storage and regasification units (FSRUs) and liquefied natural gas (LNG) solutions, and Petrovietnam Gas Joint Stock Corporation (PV Gas), a subsidiary of Vietnam Oil and Gas Group (Petrovietnam), have signed a Memorandum of Understanding to collaborate on securing a reliable and stable supply of LNG sourced from the United States as early as 2026. Through this strategic partnership, Excelerate and PV Gas will collaborate on a plan to secure reliable and stable LNG supply sourced from the United States as early as 2026. Under the agreement, the two parties will also evaluate PV Gas' LNG supply requirements and define a joint strategic framework through which Excelerate and PV Gas can execute LNG sourcing. "We are pleased to partner with PV Gas on this significant opportunity," said Oliver Simpson, Executive Vice President and Chief Commercial Officer of Excelerate. "This collaboration underscores our commitment to helping Vietnam meet its growing energy needs while also providing a downstream market for U.S. LNG supply. Together, we look forward to contributing to a sustainable and secure energy future for Vietnam." The collaboration between Excelerate and PV Gas showcases a mutual dedication to harnessing both companies' distinct strengths and resources to provide affordable and dependable energy solutions that meet Vietnam's increasing energy needs. ABOUT EXCELERATE ENERGY Excelerate Energy, Inc. is a U.S.-based LNG company located in The Woodlands, Texas. Excelerate is changing the way the world accesses cleaner forms of energy by providing integrated services along the LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to customers. The Company offers a full range of services across the LNG value chain. Excelerate has a presence in Abu Dhabi, Antwerp, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, London, Rio de Janeiro, Singapore, and Washington, DC. For more information, please visit ABOUT PETROVIETNAM GAS JOINT STOCK CORPORATION Petrovietnam Gas Joint Stock Corporation (PV Gas) is a Vietnam-based company engaged in integrated oil and gas operations. The Company is involved in the extraction, refining, distribution, marketing and pipeline transportation of natural gas and gas related products, such as liquefied petroleum gas (LPG), compressed natural gas (CNG), liquefied natural gas (LNG) and condensate. It is engaged in the import, export and trading of gas products and supplies and equipment for the gas industry. In addition, the Company and its subsidiaries are involved in support activities for oil and gas operations, including the manufacturing of gas pipelines, gas related structures building, installation, repair and maintenance, gasoline stations operations, as well as warehousing and port operations. View source version on Contacts Investors Craig HicksExcelerate Media Stephen Pettibone / Frances JeterFGS GlobalExcelerate@ ormedia@
