Excelerate Energy Reports Strong Full Year 2023 Results and Announces New $50 Million Share Repurchase Program
In January 2024, Excelerate signed a 15-year LNG Sales and Purchase Agreement (“SPA”) with QatarEnergy.
- In January 2024, Excelerate signed a 15-year LNG Sales and Purchase Agreement (“SPA”) with QatarEnergy.
- Under the agreement, Excelerate will purchase 0.85 to 1.0 million tonnes per annum ("MTPA") of LNG from QatarEnergy on a delivered ex-ship basis beginning in January 2026.
- As of December 31, 2023, Excelerate had $555.9 million in cash and cash equivalents, $49.4 million of letters of credit issued and no outstanding borrowings under its $350 million revolving credit facility.
- The Excelerate Board of Directors has authorized a share repurchase program under which the Company may repurchase up to $50 million of its outstanding Class A common stock through February 2026.