September 29, 2016

Aguirre Offshore GasPort Project Remains Essential to Puerto Rico’s Energy Future

Excelerate Continues to Move Forward with LNG Terminal in Puerto Rico

THE WOODLANDS, TX – The Aguirre Offshore GasPort (“AOGP”) project remains a critical initiative for the Puerto Rico Electric Power Authority (PREPA). For many years, PREPA and the government of Puerto Rico have worked to bring an energy solution to the island that would minimize the environmental impacts from power generation, but would also contribute to the stabilization of fuel costs. Excelerate fully supports PREPA in its efforts to obtain the approval from the Puerto Rico Energy Commission (PREC) for the project and has not diminished its efforts to deliver the beneficial AOGP project to the island. Excelerate continues to work closely with the environmental agencies to complete the permitting and engineering for the proposed LNG terminal.

Given the extensive economic and environmental analysis the project has received since 2011, AOGP is the most economical and time efficient solution to bring Puerto Rico into compliance with the Federal Mercury and Air Toxics Standards (MATS). The PREC recognizes the importance of completing the permitting and engineering process and has explicitly authorized the required expenditures. The rigorous permitting process for AOGP is near its completion and we appreciate the support of the local and federal organizations involved in the process.

LNG remains one of the most environmentally-friendly and competitive fuel sources on the market, especially when compared to ultra-low-sulfur diesel, which is the only other fuel alternative for the island to become MATS compliant. When comparing the two fuels, the utilization of natural gas will provide several billions of dollars in cost savings over a 15-year period, and provides environmental justice to the neighboring communities. AOGP will allow PREPA to enter the LNG market in a period of unprecedented availability, taking advantage of competitive pricing and forging a path to the modernization of PREPA.

Excelerate firmly believes that the AOGP project will provide a valuable service to PREPA and bring tangible and enduring benefits to the citizens of Puerto Rico, and appreciates the commitment of both PREPA and the PREC to moving it forward.