HOUSTON, TEXAS (Ian Silverman, Energy Analytics Institute, 26.Feb.2025) — Excelerate Energy reported net income of $46.1mn in the fourth-quarter 2024 (4Q:24) and $153mn for the full year 2024 as well as adjusted EBITDA of $91.6mn and $348.2mn, respectively.
The Woodlands-based Excelerate also declared a quarterly cash dividend of $0.06 per share, payable on 27 Mar. 2025, the company announced 26 Feb. 2025 in its 4Q:24 financial press release.
“2024 was an exceptional year for Excelerate. We delivered record full year financial results while maintaining our standard of operational excellence,” Excelerate president and CEO Steven Kobos said in the press release.
“Our continued success, driven largely by the performance of our core regasification business, has positioned us as the industry leader in FSRUs [floating storage and regasification unit] and downstream LNG infrastructure. As a US LNG company with a global presence, we remain well positioned to connect growing global LNG supply to attractive demand centers around the world,” Kobos said.
In 2024, Execelerate recorded a fleet reliability of 99.9%%, the highest in the history of Excelerate Technical Management, according to details in the company’s 4Q:24 webcast presentation.
Looking forward to 2025
Looking forward, Excelerate expects its full year 2025 adjusted EBITDA to range between $340mn-$360mn, while maintenance Capex is expected to range between $60mn-$70mn.
Additionally, Excelerate’s committed growth capital, which is defined as capital allocated and committed to specific investments for previously approved capital projects, is expected to range between $65mn-$75mn in 2025, the company said in its press release.
“In 2025, we will continue to focus on expanding our fleet, optimizing our LNG supply portfolio, and pursuing strategic investments in both FSRU-based import terminals and downstream LNG infrastructure. We are committed to executing our growth strategy, and we look forward to announcing key initiatives that will drive value creation for our shareholders in the near and mid-term,” Kobos said.
Fleet expansion
Excelerate said that adding new builds and FSRU conversions is a key element of its fleet expansion and overall growth strategy. Excelerate has 11 FSRUs in operation or under construction. The company boasts 3,000+ ship-to-ship transfers and deliveries of 7,300+ billion cubic feet (Bcf) of regasified LNG.
Excelerate looks to acquire a liquefied natural gas (LNG) carrier in 2025, which will serve its gas supply business in the short-term and will be a candidate for the company’s first FSRU conversion.
Conversions require a lower capital commitment and have a shorter construction timeline, Kobos said during the company’s webcast, adding that a number of the integrated opportunities that Excelerate is pursuing are better suited for an FSRU conversion.
Excelerate said Hull 3407 remains on track for delivery in 2026.
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By Ian Silverman reporting from Houston. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
