Excelerate Energy has signed a seven-year charter agreement with Sociedad Portuaria Puerto Bahía to deploy the floating storage and regasification unit (FSRU) Express (IMO 9361445) to Colombia's Caribbean coast, with operations commencing in Q1 2027. The vessel, which has served at LNG import facilities in the United Arab Emirates, delivers nominal regasification capacity of 500 mmcfd (approximately 3.8 mmtpa) and peak capacity of 690 mmcfd (approximately 5.2 mmtpa), with 150,900 cubic metres of LNG storage, according to Wood Mackenzie's sources.
The project is developed in connection with Ecopetrol under a take-or-pay structure. Contracted capacity phases in at 126 mmcfd for 2027 to 2028, rising to 300 mmcfd from year three onward. The FSRU's technical capability exceeds the initial contracted volume by a factor of approximately four, implying additional capacity may be marketed to other Colombian consumers over time.
The Caribbean region may face gas supply balance tightening, particularly during El Niño-related droughts that reduce hydropower availability. The deployment could strengthen Cartagena and Puerto Bahía's role in regional LNG logistics and provide an alternative supply source during periods of domestic production shortfall. The vessel's regasification capacity substantially exceeds Ecopetrol's initial contracted volumes, creating the potential to serve additional industrial, power generation, or commercial gas demand in the future.
Wood Mackenzie's voyage tracking will register the FSRU Express's repositioning from United Arab Emirates and record first cargo liftings once the terminal reaches commercial operations. The vessel's transit and initial loading activity will provide the earliest observable signal of Colombia's expanded import capacity entering service.
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