Excelerate To Advance Caribbean Growth Strategy With New Offshore LNG Storage And Distribution Terminal

(MENAFN- Caribbean News Global)

• To be located near the island of Grand Bahama
• AxDo Bahamas to serve as anchor customer under 11-year LNG supply agreement

TEXAS / THE BAHAMAS – Excelerate Energy, Inc. (“Excelerate”) (NYSE: EE) and AxDo Bahamas Ltd. (“AxDo”) – a joint venture between Axpo, an international leader in energy trading and marketing, and Bahamas-based energy and maritime logistics company Domicisle LNG – has announced an 11-year LNG supply agreement supporting development of the Bahamas LNG Hub.

Under the agreement, AxDo, established in October 2026 to conduct small-scale LNG and bunkering operations in the region, will become an anchor customer of Excelerate's planned offshore LNG storage and distribution terminal near the island of Grand Bahama. The supply agreement provides for deliveries of up to 16 trillion British thermal units (TBtu) of LNG a year, establishing a long-term commercial foundation for the project.

The combination of AxDo's shipping and bunkering expertise with Excelerate's LNG infrastructure and supply capabilities is intended to help meet growing LNG demand across The Bahamas and the broader Caribbean.

“The Bahamas LNG hub demonstrates the potential of our integrated platform to create new opportunities around our infrastructure,” said Oliver Simpson, executive vice president and chief commercial officer of Excelerate Energy.“By combining LNG supply, logistics and infrastructure with strong downstream partners, we can develop new markets and expand access to natural gas across the region. We're pleased to partner with AxDo and look forward to supporting growing demand in The Bahamas and throughout the Caribbean.”

Axpo's Head of Small-Scale LNG Daniele Corti said:

“Reliable access to energy is essential for the continued development of The Bahamas and the wider Caribbean. Axpo brings extensive experience in energy markets and international supply chains. This agreement allows us to apply that know-how to the Caribbean, working with key partners Excelerate and Domicisle to support the development of a flexible LNG hub for The Bahamas and the wider region.”

Domicisle LNG chief executive officer Greg Buffington added,“This agreement represents an important step forward for The Bahamas and for the development of a reliable LNG supply network across our islands. As a Bahamian-based company, our focus is on making cleaner-burning natural gas more accessible to power producers, marine operators and communities that need dependable energy. By combining Domicisle's local market knowledge and distribution capabilities with Axpo's international energy expertise and Excelerate's LNG infrastructure, we are building a practical foundation for long-term energy security and economic growth in The Bahamas and the wider Caribbean.”

A strategic LNG hub for The Bahamas

The planned Bahamas LNG hub is intended to support growing LNG demand in The Bahamas and throughout the Caribbean. The project is designed to provide LNG storage and distribution services for marine bunkering, power generation, and other downstream customers while expanding access to natural gas across the region.

Initial LNG deliveries are expected to begin in 2027 utilising existing LNG supply and logistics capabilities from Excelerate's Jamaica platform. A second phase is expected to include deployment of a floating storage unit (FSU) near Grand Bahama in 2028, subject to final permitting and construction timelines, and other contractual provisions. The FSU will serve as the offshore LNG storage and distribution terminal.

Located in one of the Caribbean's busiest maritime corridors, Grand Bahama is strategically positioned to support cruise ship bunkering, power generation and regional LNG distribution demand while enhancing regional LNG logistics capabilities and energy security.

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