your Welcome, a this to for you everyone. all We Craig. first Thanks, call in our appreciate want I Excelerate thank company. for earnings us Energy. joining interest morning public as
Before quarter, a I to we go-forward business Excelerate's strategy. want for remains our that the results aspect of highlight key to into the jump core
Since XXXX, reputation to providing the proven and strong Excelerate a solutions around LNG globe. established diverse environments and markets flexible for has
and changing life. cleaner and markets way much expand has LNG the of accesses Simply Although FSRU and energy. out time years, in flexible as decarbonization at their access quality was to been constant same business, remained open committed different we our world a LNG. providing are our to the countries new one We today growth that economic business efforts believe when is to put, essential assisting to the access model to is having promoting while the over improving pure-play it desire than we started by thing has
our be our strategy Excelerate, time in to the an history, executed time on frankly, momentum we've team LNG the built and us. and talented services We've at exciting base LNG regasification to by customers from with it's recent solid an our business Thanks in need the successfully focusing a providing in and critical expect they It's years. exciting company's substantial established industry. and excellence operational that
on Our creating long into we our believe a new opportunities. way core deliver us competitive vying has toward markets to our deeper advantage for promises gone offer inroads a real ability when that
Looking our on in ahead, momentum now executing to commercial we build the us. opportunities that of on by robust are expect front
to choice we premier LNG countries many viewed around looking a means are to dependable create for the the As LNG infrastructure partner a provider, as systems. of world as energy
that, let's turn With the for to results quarter. our
Our line was with the We net first adjusted income delivered and EBITDAR. quarter of million in and during solid $XX of financial million expectations. our $XX performance
dynamic primarily regasification were the and our embargo The New by OPEC the shift why of reason driven energy our line as have since contracts sales as so to proven is most arguably has Our results years. of gas natural quarter delivered during business over We're is in England. to the resilient business performance model be regasification long-term these the XXXX. oil nature during our of the what pleased bottom the well results market the in Brazil take-or-pay
the we operating in were portfolio quarter. addition during commercial our of our In opportunities business, to day-to-day also successful advancing
Gateway regasified On into in LNG our we England port the Boston Harbor. front, gas delivered deepwater Northeast New sales via once again
completed February. the Gateway Our gas of sales at Northeast at were end
full completing Additionally, natural our sales to in in business Bahia quarter first Brazil continue by execute sales the our we regasification of gas gas terminal.
up the LNG terminal, agreement begin expansion our the to In annum. years an by to XXXX, tons commercial of our X.X negotiations approval the E-FIT February, million regasification to of X sell extension government and to received from LNG, we Moheshkhali per for Bangladesh supply of agreement
we Argentina. providing at Exemplar is at in Argentina. Exemplar the March, Blanca Bahia the during Bahia awarded arrived seasonal GasPort regasification Southern In services in terminal she the XX, a The currently and winter for charter Blanca regasification were on May
month, in principle project. government approval for this issued Bangladesh the the the LNG Earlier Payra
are We X integrated includes tons supply an to the negotiating annum per currently X agreement sell million deal, to LNG country. to which million the
government new in meters agreement illustrates their last the reached Finland. just FSRU growing an per This Southern billion capacity cubic access important to efforts for year LNG accelerate their we Exemplar a to as for countries And enhance of week, to to X regasification the with terminal energy security. of up provide regasification project demand flexible Finland through
some I'd Now market. of you the current state the on LNG like perspectives to share with global
on being gas would and we region have witnessed countries flexible for to Asia for Europe. the limited have Europe further resulted increased The enhancing driven LNG market. pipeline have the highs spot also for LNG gas global in cargoes year, to competing means Pacific the the energy now disruptions a being to paradigm having half LNG first The in and who ordinarily reliability of been of to record as LNG imported potential supply. the in prices diverted region Ukraine destined security. in access shift The Europe greatly been a the increase of promoting of Russian energy as that energy this in historically have LNG war are crisis Russian dependent appeal volumes LNG have Over
of to supply with faced will per to of of which stabilize now new liquefaction per sequence of taking the We of its order billion meters in is XXX projects expect to gas more replacing enhance the energy approximately FID, systems collective energy and a Europe security. tons XXXX. the Russian year additional wave to XXX than cubic million be new lead already events challenge through annum announced
of to to the We across in critical prove style to and goal. FSRUs E-FIT accomplish integrated factors increased Europe's expect use the region be terminals ability this
to efforts to their secure result, a FSRUs LNG we As accelerate and countries infrastructure. expect European
LNG a interest pace the access and increase market. moving to for understand We who of importance energy of to in in effect LNG customers spillover expect It's the clear decision-making world. around the the also today's value Europe consumers have security and quickly flexible that
As in vessels candidates a fleet. our are the of capabilities, and them open both ideal deployment closed-loop approximately for XX% own warm and make equipped with global FSRU reminder, water Most we which of cold environments.
We have send-off largest for capacity employed regasification million from X,XXX fleet to day. with the per FSRU standard feet XXX cubic ranging
that of meaningful Europe Our that and of we tailwinds. providing fleet a is benefit market now can these in confident the needs the regasification from and critical capable capacity are future, portion we
estimate of existing Europe, and new of America projects footprint. We in for $X global both counterparties locations active currently developing are growth solutions of Middle Excelerate, projects FSRUs integrated with In Asia our represent to capital that a Latin supplement for We early-stage portfolio and our East. billion across are markets advanced looking development investment LNG in opportunities, a we Pacific, and identified their in in variety over projects needs. development and additional in we energy have the discussions
as they materials, on projects quarter, advanced provide as in we part execution. earnings available. updates of also projects material our our Each will our transition incremental from We'll provide development are to as updates they on
project to second see half quarter, announced the to quarter in updated show the of XXXX, the XXXX. the Filipinas fourth to and the we've timing you'll project our commence expect list This of Finland of that project service that shifted we've recently we
the to our we our and our integrated increasing a the range our in adjust Because changing value projects And we are allocating projects market business our options tonnage of ensures we of model, response projects of for assessing in operate to optimizing approach to for the are vessels. number that our shareholders. an and assets resources This have the that pipeline, we maximize deployment of flexibility to sequencing dynamics. accommodate currently
this As to us replace for announced security government This with agreement of enough for deliver serve tool both XX-year long-term capacity FSRU and gas operator, project Excelerate binding of will of Finland as Exemplar. Estonia. services the FSRU from week, supply transmission government We just last LNG the Finland's we agreement regasification allow will the a regasified state-owned utilizing imports Finland's to Russia. Gasgrid, a for executed believe Estonia's pipeline completely and
in located terminal year. of We pipeline. service near Balticconnector the expect in this place the be Finland The our FSRU Southern Exemplar to will in fourth quarter
phase project. emergency procure government. In plant January, In Albanian to with second month, government the power study proceed accepted same the X feasibility the an for Albanian and by were approval of from offer received the barges notified we to on was the basis terminal LNG our we Vlora the that power
our agreement Albgaz, the in to the are have online terminal European world, and come and the with to operator, the expect year. since largest Albania's to of system commercial of second owners of this MOU the LNG with gas power explore transmission executed previously connect and half infrastructure service the announced operators energy for X definitive gas We one barges natural in with natural continuing Snam, Under to infrastructure. Vlora other solutions years we
have in countries Gas to Flexible Europe's Albania, the Southern like LNG Vlora other potential enhance Greece, energy and security Italy, the Bulgaria projects for Corridor. terminal
and the to second project in plant expect We terminal Vlora power online the half LNG XXXX. come of
about in before our spoken Bangladesh. growth We've opportunities
MLNG gas proposed increase southeastern would part in deliveries E-FIT existing to Bangladesh. continue We natural project, the through which terminal our expansion of our to advance the country
of customers volumes project, economy are which Bangladesh's gas natural advancing We existing would western and parts our in power Bangladesh. southern LNG support and growing the providing also by new to
approval a By receiving project reached the the in principle, Bangladesh significant milestone an approval has power process. in
high the negotiating to execution project counterparties with will integrated as have our confidence planned. deal and proceed are the We that
our of from increase capital of game a our represent project to scale expect global perspective. a We and Payra for be date deployment it operations in largest the Excelerate as would a changer significantly to
cubic receive regions and of approximately the million day Currently, standard of per southern western XXX gas. natural Bangladesh feet
million per to the feet existing in-service. region. to regas plants of initial by gas the Payra cubic project we of pipeline, onshore cycle at project in XXX expect through capable be providing power Payra XXX increase X billion per And providing day combined X expect capacity kilometer, cubic standard the amount natural to feet this day We its
opportunities power are new power the In addition actively to route. existing along for projects plants, these pipeline we exploring
We to Payra begin The in geophysical X project and the next pipeline complete project months. surveys is and engineering an to for selection expect date the in-service front-end targeting design XXXX. and route in study our
deals of Bangladesh approximately On are we for the these million annum deal combined project, XX MLNG LNG us negotiating million to would global current per basis, to country. supply to sell LNG deal the to that a the annually In addition to expansion would supply over a Payra us XX supply X to tons sell next LNG LNG allow allow years. to separate for of X X supply the X%
with you call turn in provide results investment will to Dana, a the more of financial who our Before summary detail, our I over want I thesis. through walk to
Our world. energy infrastructure the remains our provide shareholders as to to superior integrated around primary an lack returns to of the addressing to objective committed cleaner LNG company access
We to in our enhancing new portfolio the goal base markets developing rates further a growth high-quality while is of that our a markets. and downstream this both downstream projects into value In accomplish and closing, that relationships existing Energy Excelerate integrating customer return by we provide compelling of asset opportunity chain. expect and LNG attractive existing believe investment
With call our over Armstrong. that, turn now I'll Dana the CFO, to
