THE WOODLANDS, Texas, Aug. 13, 2012 -- The United States Department of Energy has granted Excelerate Energy a long-term, multi-contract authorization to export liquefied natural gas (LNG) to free trade agreement (FTA) nations from its Lavaca Bay LNG project, currently under development. The company will be authorized to export up to 10 million metric tons per annum (mtpa) of LNG produced from domestic resources for a 20-year term commencing on the date of its first export.

Located on the Texas Gulf Coast, Lavaca Bay LNG will be the first floating liquefaction export facility in the United States and will utilize Excelerate's Floating Liquefaction Storage Offloading vessel (FLSO™) technology. The facility will require authorization from the Federal Energy Regulatory Commission (FERC). Excelerate will begin the FERC pre-filing process fourth quarter 2012 and expects the facility to be in-service in 2017.