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NYSE-listed Excelerate Energy announced on Thursday that it has received an official Award Letter from the Iraqi government to develop an integrated floating liquefied natural gas (LNG) import terminal, the OPEC member's first such facility.
In June 2025, Zawya Projects had reported that the Texas-headquartered company was among the front runners for the project, which involves establishing a floating storage and regasification unit (FSRU) at the Khor Al-Zubair port in Basra.
The company said in a press statement that the project remains subject to the successful negotiation and execution of binding commercial agreements.
“Excelerate is actively engaged with Iraqi authorities to finalise the necessary contracts and ensure timely implementation of this critical energy infrastructure,” the statement said.
The proposed terminal will enable the importation of LNG to support domestic power generation, help stabilise the national grid, and allow Iraq to diversify from dependence on Iranian gas, it added.
The award was conveyed in a September 25 meeting on the margins of the 80th United Nations General Assembly in New York City.
In the UAE, Excelerate Energy operates FSRUs in Abu Dhabi for ADNOC and in Dubai for DUSUP.
(Writing by N Saaed; Editing by Anoop Menon)
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