The US LNG company Excelerate Energy has signed a definitive commercial agreement with Iraq to develop the nation’s first floating LNG import terminal worth US$450m at Khor Al Zubair (Excelerate Energy press release, 28/10/2025).
- It includes a five-year contract for regasification and LNG supply through the deployment of Excelerate’s FSRU, with extension options, and a minimum contracted offtake of 250 mcf/d, equivalent to about 2.6 bcm/year (1.9 Mt/year).
- Under the agreement, Excelerate will construct the floating LNG import terminal, designed to handle a guaranteed 500 MMscf/d (4.3 Mt/year) of regasification capacity, using its Hull 3407 FSRU.
Commercial operations are expected to begin in 2026, pending final permits, construction schedules, and closing conditions, according to the company’s statement.