News Releases

New York, NY (December 2, 2009) – Barclays Capital, the investment banking division of Barclays Bank PLC, said today it has entered into an agreement with Excelerate Energy to market Excelerate Energy’s Liquefied Natural Gas (LNG) cargoes accessing the Northeast Gateway Deep Water Port, and provide optimization and hedging services. The agreement marks the launch of Barclays Capital LNG Services, created to provide tailored solutions for the growing LNG industry.

Barclays Capital will provide Excelerate with fixed-price hedging mechanisms, allowing Excelerate to optimize pricing for natural gas buyers and marketers in the US Northeast. Additional services include taking physical delivery, transport, and optimization of cargoes through profit-sharing between the parties.

“This agreement links the trading and risk management expertise of Barclays Capital with the LNG marketing expertise and industry-leading innovation of Excelerate Energy,” said Henry Weitzner, Managing Director and Head of US Natural Gas and Power Trading for Barclays Capital. “By providing customized services to the client, we help them offset risk while enabling attractive pricing for both the natural gas seller and buyer.”

Excelerate’s proprietary technology allows LNG to be regasified while onboard the LNG ship. Natural gas can thus be delivered directly to niche and seasonal markets, offering flexibility valued by LNG sellers, and by natural gas buyers and marketers.

“We’re pleased to be partnering with Barclays Capital in developing new strategies for optimizing our cargoes in the northeast,” said Andree Stracke, Chief Commercial Officer of Excelerate Energy. “The solutions they are providing give us liquidity and flexibility in a volatile trading environment. As the Northeast market is one of the most valuable in the Atlantic, this agreement provides better price stability for ourselves and our customers in the region.”

Barclays Capital LNG Services was launched with this transaction to act as a service provider for the LNG industry, with solutions including access to liquidity and markets, risk management, and credit and risk intermediation.

"With increasing globalization in gas markets and renewed emphasis on the Atlantic basin for LNG over the last year, there is clearly a heightened role for the types of services that Barclays Capital can offer the LNG community,” said Jonathan Whitehead, Managing Director and Head of Commodity Sales & Structuring in Europe, Middle East & Africa. “Barclays Capital LNG Services aims to bring risk management expertise in liquid wholesale energy markets to our clients in the LNG business.”

About Barclays Capital
Barclays Capital is the investment banking division of Barclays Bank PLC. With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with a comprehensive set of solutions to their strategic advisory, financing and risk management needs. Barclays Capital has offices around the world, employs over 20,000 people and has the global reach, advisory services and distribution power to meet the needs of issuers and investors worldwide. For further information about Barclays Capital, please visit our website: www.barclayscapital.com.

About Excelerate Energy
Excelerate Energy is an importer of liquefied natural gas (LNG), a provider of regasification services, and a developer of unique market access points around the world. With an entrepreneurial focus on the rapidly-growing global LNG marketplace and the infrastructure required to support it, Excelerate Energy is a proven leader in offshore LNG solutions.

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Contact: 

Seth Martin
+1 (212) 412 7565
seth.martin@barclayscapital.com

Daniel Hunter
+44 20 313 42195
daniel.hunter@barclayscapital.com