Mission Statement, Vision, & Core Values (2024) of Excelerate Energy, Inc. (EE)

An Overview of Excelerate Energy, Inc. (EE)

General Summary of Excelerate Energy, Inc.

Excelerate Energy, Inc. (EE) was founded in 2003 and has established itself as a leader in the global liquefied natural gas (LNG) industry. The company specializes in the integration of natural gas-to-power in the LNG value chain, providing floating storage and regasification units (FSRUs) and terminal services. As of 2024, Excelerate operates a fleet of ten purpose-built FSRUs and has successfully completed over 2,900 ship-to-ship transfers of LNG. The company has a strong operational presence in regions such as Argentina, Bangladesh, Brazil, Finland, Germany, Pakistan, the United Arab Emirates, and the United States, making it the largest provider of regasified LNG capacity in multiple countries.

In 2024, Excelerate generated total revenues of $576.9 million for the nine months ended September 30, a significant decrease from $918.9 million for the same period in 2023. The company’s revenue from FSRU and terminal services was $458.1 million, an increase of $80.9 million compared to $377.2 million in 2023, while gas sales revenues fell to $118.7 million from $541.7 million in the previous year.

Company’s Financial Performance

Excelerate Energy reported a net income of $107.0 million for the nine months ended September 30, 2024, a slight increase from $106.8 million in the same period in 2023. The company's adjusted EBITDA was $256.6 million for the nine months ended September 30, 2024, down from $275.4 million in 2023.

For the three months ended September 30, 2024, Excelerate’s revenues totaled $193.4 million, with a net income of $45.5 million and adjusted EBITDA of $92.3 million, compared to $275.5 million, $46.5 million, and $106.9 million respectively for the same period in 2023.

The decrease in revenues was primarily attributed to a decline in gas sales revenues, which fell from $142.3 million in Q3 2023 to $43.3 million in Q3 2024. The decrease in gas sales was mainly due to the completion of a natural gas sales agreement in Brazil.

Introduction to Industry Leadership

Excelerate Energy is recognized as a pioneer in the LNG industry, holding a significant market share in regasified LNG capacity across various regions. The company leverages its extensive experience and operational capabilities to meet the growing global demand for LNG, particularly in emerging markets. In 2024, Excelerate continues to expand its footprint through strategic partnerships and investments in innovative LNG solutions, positioning itself as a key player in the energy transition towards cleaner sources of power.

To understand more about Excelerate Energy's innovative strategies and market positioning, readers are encouraged to explore the subsequent sections below.

Mission Statement of Excelerate Energy, Inc. (EE)

Mission Statement of Excelerate Energy, Inc. (EE)

Excelerate Energy, Inc. (EE) is dedicated to changing the way the world accesses cleaner and more reliable energy, focusing on delivering regasified natural gas. The company's mission emphasizes flexibility in liquefied natural gas (LNG) solutions across diverse global markets, thereby supporting economic growth and improving quality of life while aiding in decarbonization efforts.

Core Component 1: Delivering Reliable Energy Solutions

Excelerate Energy’s mission underscores its commitment to providing reliable energy solutions. For the three months ended September 30, 2024, the company reported revenues of $193.4 million, demonstrating its capacity to generate substantial income through its operations. This figure represents a notable decrease from $275.5 million during the same period in the previous year, largely attributed to reduced gas sales opportunities.

Core Component 2: Commitment to Sustainability

Excelerate Energy is focused on sustainability through the provision of cleaner energy sources. The company operates the largest floating storage and regasification unit (FSRU) in Brazil and is the largest provider of regasified LNG capacity in several countries, including Argentina and Bangladesh. As of September 30, 2024, Excelerate has delivered over 7,100 billion cubic feet of natural gas, reinforcing its role in the global transition to cleaner energy sources.

Core Component 3: Customer-Centric Approach

Excelerate Energy’s mission highlights its customer-centric approach, aiming to provide high-value services that meet the diverse needs of its clients. The company has established a strong revenue stream through long-term, take-or-pay contracts with high-quality customers. For the nine months ended September 30, 2024, Excelerate reported a net income of $107.0 million, reflecting its effective customer engagement strategies and operational efficiencies.

Vision Statement of Excelerate Energy, Inc. (EE)

Vision Statement of Excelerate Energy, Inc. (EE)

Excelerate Energy, Inc. aims to redefine global energy access through cleaner and more reliable solutions, emphasizing the role of liquefied natural gas (LNG) in the transition to sustainable energy sources. In 2024, their vision statement reflects a commitment to providing flexible LNG solutions that enhance energy security and support global decarbonization efforts.

Excelerate Energy is dedicated to facilitating the transition to a lower-emission energy future. As of September 30, 2024, the company reported revenues of $193.4 million, with net income of $45.5 million for the quarter, showcasing its profitability while promoting cleaner energy solutions.

Excelerate operates in 11 countries and has a significant presence in key markets such as Argentina, Bangladesh, Brazil, Finland, Germany, Pakistan, the UAE, and the U.S. As of September 30, 2024, the company managed a fleet of ten purpose-built floating storage and regasification units (FSRUs) and has completed over 2,900 ship-to-ship transfers.

For the nine months ended September 30, 2024, Excelerate's total revenues reached $576.9 million, a decrease from $918.9 million in the same period of 2023. The decline in revenue was primarily due to lower gas sales, which dropped significantly from $541.7 million to $118.7 million.

Excelerate is committed to innovation within the LNG sector, focusing on developing new technologies and partnerships to enhance operational efficiencies. In October 2022, the company entered into a shipbuilding contract with HD Hyundai Heavy Industries for a new FSRU, with milestone payments projected at approximately $50 million in Q4 2024.

Excelerate is actively pursuing strategic partnerships to expand its market presence. The company has executed a 20-year LNG sale and purchase agreement with Venture Global LNG, aiming to secure a stable supply of LNG, which is essential for its growth strategy.

Excelerate Energy emphasizes stakeholder engagement, focusing on enhancing shareholder value through sustainable business practices. The company has implemented a share repurchase program, allowing for the repurchase of up to $50 million of its Class A Common Stock, reflecting confidence in its financial health.

Looking ahead, Excelerate Energy aims to capitalize on the increasing global demand for LNG, especially in emerging markets. The company anticipates continued growth in its core LNG services, aligning its operations with global sustainability goals while enhancing energy security.

Core Values of Excelerate Energy, Inc. (EE)

Integrity

Integrity is at the core of Excelerate Energy's operations, guiding interactions with stakeholders and ensuring ethical practices. The company emphasizes transparency and accountability in all its dealings.

Excelerate has implemented a robust compliance program that includes regular training for employees on ethical conduct and regulatory requirements. This initiative is evident in their commitment to environmental standards, as seen in their operations, which adhere to international environmental regulations, minimizing their carbon footprint while maximizing efficiency. For instance, Excelerate's fleet of floating storage and regasification units (FSRUs) is designed to operate with minimal environmental impact, contributing to cleaner energy solutions in various markets.

Innovation

Innovation is pivotal for Excelerate Energy, driving the development of cutting-edge technologies and solutions in the LNG sector. The company invests significantly in research and development to enhance operational efficiency and service delivery.

In 2024, Excelerate launched a new digital platform aimed at optimizing supply chain management for LNG logistics. This platform has led to a 15% reduction in operational costs by streamlining processes and improving response times to market demands. Additionally, Excelerate's partnership with HD Hyundai Heavy Industries for the construction of a new 170,000 m³ FSRU exemplifies their forward-thinking approach, with expected delivery in 2026 and a total investment commitment of approximately $50 million in milestone payments made in 2024.

Collaboration

Collaboration is a fundamental value for Excelerate Energy, fostering partnerships that enhance service delivery and expand market reach. The company actively engages with various stakeholders, including governments, industry partners, and local communities.

Excelerate's collaboration with Venture Global LNG under a 20-year LNG sale and purchase agreement illustrates this commitment. The agreement, valued at approximately $18 billion, enables Excelerate to secure 0.7 million tons per annum (MTPA) of LNG, significantly enhancing its supply capabilities. Furthermore, Excelerate's operational presence in 11 countries highlights their commitment to working closely with local entities to ensure energy access and reliability in diverse markets.

Sustainability

Sustainability is a core value that shapes Excelerate's business strategy, focusing on providing cleaner energy solutions while reducing environmental impact. The company is dedicated to promoting the use of LNG as a transition fuel that supports global decarbonization efforts.

Excelerate has made substantial investments in sustainable practices, including the deployment of its FSRUs, which provide a flexible and efficient means of delivering LNG to markets. In 2024, the company reported that its operations helped offset approximately 1.2 million metric tons of CO2 emissions compared to traditional coal-based power generation. Additionally, Excelerate’s commitment to sustainability is reflected in its operational metrics, with a 94% utilization rate of its regasification capacity across its terminals, reinforcing its role as a leader in the LNG sector.

Updated on 16 Nov 2024

Resources:

1. Excelerate Energy, Inc. (EE) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Excelerate Energy, Inc. (EE)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Excelerate Energy, Inc. (EE)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.