keep its costs lower. Excelerate is also one of several companies close to bringing to market technology that will equip ships with the ability to liquefy natural gas into liquid form for transportation, which could create new markets for stranded gas reserves that could be sold to markets where demand is running higher. Excelerate continues to work with Exmar on such ship- based advances, with Exmar serving as technical managers and owners of the vessels and Excelerate operating them and owning an equity stake in partnership with Exmar. Even with the global economy in slowdown mode, the demand for LNG is continuing to grow, Cook argues. Many newer power- generation facilities are capable of running on multiple fuels, and natural gas is considered cleaner and more environmentally friendly than some other alternative fuel sources, such as coal. " There are significant supplies that are dislocated from the markets where the demand exists," says Cook, " and irrelevant of price, there is a need to move the gas from the supply source to the market. What we've been seeing is that even with gas prices in the US at historic lows, the market is so large that it can absorb more supply. Even with new liquefaction coming on line and new suppliers in the market, you're going to continue to see LNG flowing to those places where the demand exists. The marketplace knows we have the technology and the experience with bringing projects from idea to reality in a way that makes more projects feasible and economical." Excelerate Energy NOVEMBER 09 www. bus- ex. com 35 Mouchel supported Excelerate Energy during the Mina Al- Ahmadi GasPort Project by providing full project design, conceptual marine civil and mechanical design, full detail electrical and instrumentation ( E& I) design, and onshore mechanical detail design. Mouchel also headed the procurement of the long lead and main equipment items, and the shipping of these from the point of origin to the Mina Al- Ahmadi GasPort. Throughout the life of the project, Mouchel provided both site and office support to Excelerate Energy covering all aspects from design to construction. Mouchel market for Excelerate. This year it built a gas port in Kuwait to help address peak demand for natural- gas-powered air conditioning. Excelerate also served as the engineering and construction contractor for the shoreside facility in Kuwait. " Our focus is now very much on an international basis," Cook says. " We're seeing opportunities in various parts of the world: in and around Europe, in the UK, in the Mediterranean region and in South America, as well as Asia. There is a lot of demand for LNG receiving capabilities, and our technology allows us to come in and- with a very minimal footprint compared to more traditional land- based facilities- do things more cost- effectively and often more rapidly." Excelerate gained additional access to markets in Europe and elsewhere in February 2008, when Kaiser sold part of his stake in the operation to Germany-based utility RWE. Although LNG is not particularly hazardous or dangerous cargo, siting onshore facilities can be a challenge because of safety concerns. " It tends to be a lightning rod for public concern, and being able to locate offshore facilities on a permanent or semi- permanent basis is a palatable alternative for a lot of people." In addition to buying and selling LNG on the spot market and through longer- term supply contracts, Excelerate also provides storage and regas services and also charters its own vessels to third parties. Doing so enables the company to keep its assets in use as much as possible, which in turn allows it to

36 www. bus- ex. com NOVEMBER 09 A bellwether project Sixty- four million Americans use natural gas every day to heat their homes and cook their meals. With energy demands constantly on the rise, Liberty Natural Gas is supplying one solution