Excelerate Energy's Aguirre Offshore GasPort Project Receives Draft EIS from FERC

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| Source: Excelerate Energy, L.P.
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THE WOODLANDS, Texas, Aug. 8, 2014 (GLOBE NEWSWIRE) -- Excelerate Energy, in cooperation with the Puerto Rico Electric Power Authority (PREPA), has received the Draft Environmental Impact Statement (EIS) from the Federal Energy Regulatory Commission (FERC) for its Aguirre Offshore Gasport Project (AOGP) located offshore Puerto Rico. The FERC staff concludes in its statement that the construction and operation of the Project would result in limited adverse environmental impacts that would mostly occur only during construction. Moreover, the statement confirms the inherent benefits of the project; including, the diversification of Puerto Rico's energy sources, allowing for PREPA to be MATS compliant, reducing barge traffic in Jobos Bay, and contributing to price stabilization for power in the region.

"We are pleased with FERC's conclusion in confirming that the project will have minimal impacts to the environment. In order to ensure we safeguard the environment, we will implement any necessary mitigation measures outlined in the final EIS," stated Daniel Bustos, Chief Development Officer of Excelerate Energy. "As with our other facilities worldwide, we are committed to being a safe and responsible operator within the communities we serve."

"The publication of the draft represents a step forward towards our objective of reducing our dependence on oil and increase the use of natural gas to generate electricity and achieve to lower the energy cost in the island," said PREPA's executive director, Juan F. Alicea Flores.

AOGP has undergone an extensive analysis during the review process, with Excelerate responding to data requests from the FERC, cooperating agencies, and the general public. In addition, both Excelerate and PREPA have held numerous meetings with both the private and public sectors to ensure complete transparency throughout the entire permitting process.

The FERC has opened the project for public comment until September 29, 2014. The Commission expects to issue the final EIS by December 19, 2014. Pending FERC's approval, the facility is expected to begin construction in April of 2015.

All project related information, along with information on public hearings, can be found on the AOGP project website, www.aguirreoffshoregasport.com
 
About the Puerto Rico Electric Power Authority

The Puerto Rico Electric Power Authority (PREPA) is a public corporation that was founded in 1941. PREPA owns and operates electric generating and distribution facilities serving all of Puerto Rico, supplying 99 percent of the power consumed on the Island. Dependable generating capacity aggregates approximately 4.4 million kilowatts, and adequately supplies the highly industrialized economy of Puerto Rico. PREPA is directed by a Government Board.
 
About Excelerate Energy®

Excelerate Energy L.P. is the pioneer and market leader in innovative floating LNG solutions. We provide integrated services along the entire LNG value chain with the objective of delivering rapid-to-market and reliable LNG solutions to our customers. Excelerate offers a full range of floating regasification services, from FSRU to infrastructure development; we serve the upstream market through the development of floating liquefaction (FLNG) solutions; and our established trading and chartering team is active in the global market and provides access to LNG supply and market to both our downstream and upstream customers. Headquartered in The Woodlands, Texas, Excelerate has a presence in Buenos Aires, London, Rio de Janeiro, and Singapore. For more information, please visit www.excelerateenergy.com.

A photo accompanying this release is available at:

http://www.globenewswire.com/newsroom/prs/?pkgid=26978

PREPA Media Contact:
Yohari Molina

+1 787-909-6092

Excelerate Energy Media Contact:
Denise Madera

+1 832-813-7100