Excelerate Energy selects Nord Gas Solutions to supply regasification module for its first FSRU conversion project

Excelerate Energy handed Nord Gas Solutions a contract in July 2026 to supply the regasification system module for converting the 170,000-cubic-meter (6.0-million-cubic-foot) LNG carrier Methane Patricia Camila into a floating storage and regasification unit — the company’s first-ever FSRU conversion project.

Contract awarded for first FSRU conversion

The Methane Patricia Camila is getting more than a new job. It’s helping Excelerate Energy do something it’s never done before. The company has always operated FSRUs built specifically for that purpose, so converting an existing LNG carrier is a different challenge entirely — and who supplies the core regasification technology is a decision that carries real weight.

The July 2026 contract puts Nord Gas Solutions in charge of supplying the regasification system module that’ll go aboard the vessel. At 6.0 million cubic feet (170,000 cubic meters), the Methane Patricia Camila is a large LNG carrier. Once converted, it’ll receive, store, and turn liquefied natural gas back into gas form for delivery to onshore markets — the defining function of an FSRU.

The company knows FSRUs well, but moving from commissioning purpose-built vessels to converting an existing carrier is a different kind of fleet strategy altogether.

For Excelerate Energy, this is genuinely new territory. The company knows FSRUs well, but moving from commissioning purpose-built vessels to converting an existing carrier is a different kind of fleet strategy altogether.

Why Nord Gas Solutions was selected

Excelerate Energy’s COO David Liner was direct about what drove the decision: experience and an existing relationship. “NGS brings extensive experience designing and delivering regasification systems for the global LNG industry,” Liner said. “Combined with our longstanding relationship, their technical expertise made them a natural partner for Excelerate Energy‘s first FSRU conversion project.”

That combination tends to tip the scale on decisions like this. FSRU conversions are complicated — the regasification module has to integrate with an existing vessel structure rather than a clean-sheet design. That’s a fundamentally different engineering challenge, and it favors suppliers who’ve navigated it before. NGS has exactly that background, with prior experience delivering regasification modules for FSRU conversion projects specifically. That track record gave Excelerate Energy confidence the execution would hold.

Pål Steinnes, Head of Sales, Midstream at NGS, confirmed the relationship piece from his end. “We have a strong relationship with Excelerate Energy, and it is a great honor to once again team up with one of the industry’s most prominent companies on their first conversion project,” he said. “Once again” is worth noting — these aren’t two companies meeting for the first time.

Delivery timeline and expected deployment impact

The NGS regasification module is scheduled for delivery in the first half of 2028. FSRU conversions at this scale involve a lot of moving parts running simultaneously, and the module is one critical piece of a much bigger puzzle.

Once deployed, Excelerate Energy expects the converted vessel to broaden access to natural gas in the markets it serves — describing that gas as cleaner and more affordable for those target markets. The company frames this as an energy access story, not just a commercial one. That framing fits the broader LNG market reality: FSRUs have become a go-to tool for countries that want to import natural gas without the long timelines and heavy capital costs of permanent onshore terminals. A converted vessel can reach a market faster and cheaper than a greenfield terminal, which is a big part of what makes this asset class attractive.

Background: Nord Gas Solutions and its origins

The name Nord Gas Solutions might not ring a bell — it’s new. NGS became an independent corporate brand on June 1, 2026, just weeks before the Excelerate Energy contract landed.

The company emerged from Mutares SE & Co.’s acquisition of Wärtsilä Gas Solutions, which had been part of the Finnish industrial group Wärtsilä, long established in marine and energy technology. When Munich-based investment firm Mutares — focused on repositioning industrial businesses — completed the acquisition, a rebrand followed and NGS stood up as a standalone entity. The team, the engineering expertise, and the global LNG regasification experience all came with the new name. For a customer like Excelerate Energy, that continuity matters far more than what it says on the letterhead.

What this contract signals

Put it all together and the picture is fairly clear. Excelerate Energy is broadening how it grows its FSRU fleet, adding conversion projects to its existing playbook. To take that step, it went with a supplier carrying proven FSRU conversion credentials and an established working relationship — Nord Gas Solutions, newly independent but technically grounded.

Regasification module delivery is targeted for the first half of 2028. After that, the Methane Patricia Camila joins the global FSRU fleet, connecting LNG supply to markets that need it. For both companies, this contract marks something concrete: Excelerate Energy’s first conversion project, and an early, high-profile win for NGS under its new identity.