Excelerate Reroutes Newbuild Acadia FSRU to Jordan Amid Iraq Delays: 9-Month Charter With NEPCO at Aqaba

US-listed regasification player Excelerate Energy has secured interim employment for its newest floating storage and regasification unit after delays to Iraq's planned LNG import project pushed back the vessel's long-term deployment. The New York-listed company said it has signed a definitive nine-month charter agreement with Jordan's National Electric Power Company (NEPCO) to deploy the newbuild Excelerate Acadia at the LNG import terminal in Aqaba.

The vessel is expected to begin operations in mid-2026, with the charter forecast to contribute around $20 million in adjusted EBITDA this year. The deal gives Excelerate short-term earnings cover while it continues to advance Iraq's first LNG import terminal project, which has been delayed by the ongoing conflict in the Middle East.

Excelerate had originally earmarked the Excelerate Acadia for long-term work in Iraq under a five-year integrated LNG import agreement signed in October 2025 with a subsidiary of Iraq's Ministry of Electricity. That project includes both LNG supply and regasification services, with minimum contracted volumes of 250 million standard cubic feet per day and extension options attached. Excelerate said it will keep advancing the Iraq project while the Jordan charter runs.

The move comes as LNG flows across the Eastern Mediterranean and Red Sea are being redrawn. Aqaba has emerged as a critical link in Jordan's energy security, with uncertainty around Egyptian gas flows and broader regional pressure pushing the country's LNG import infrastructure into focus. For the Excelerate fleet, Acadia represents one of the group's newest assets in terms of regasification capacity.

Excelerate management stressed that the interim Aqaba deployment does not alter the long-term structure of the Iraq deal. The company said the Acadia will operate at full capacity in Jordan until the Iraq terminal is online, and will then move to its long-term contracted position in the Persian Gulf once the charter ends.

Key Takeaways:
1. Excelerate Energy signed a definitive nine-month charter with Jordan's NEPCO for the newbuild Acadia FSRU.
2. Acadia will begin operations at the Aqaba LNG import terminal in mid-2026.
3. The charter is forecast to contribute about $20 million in adjusted EBITDA this year.
4. The deal offsets delays to Excelerate's October 2025 five-year integrated LNG import agreement with a subsidiary of Iraq's Ministry of Electricity.
5. Acadia will move to its long-term Persian Gulf position once the charter ends; minimum contracted volume is 250 million scf per day.