The $1.055bn cash purchase price is about nine times the Jamaica operation's expected adjusted EBITDA for 2025. Steven Kobas, President and CEO of Excelerate Energy, said, "These assets complement our existing operational expertise and our long-term LNG supply agreements, while offering the potential for future growth opportunities as natural gas becomes an increasingly essential part of Jamaica's energy mix." The Montego Bay LNG Terminal has a storage capacity of approximately 7,000 cubic meters of LNG across seven storage tanks. When built, it was Jamaica's first LNG terminal. The Old Harbour LNG Terminal was commissioned in 2018 and is a floating storage and regasification unit (FSRU), with an underwater natural gas pipeline. NFE's Clarendon CHP co-generation plant supplies steam to the neighbouring Jamaican bauxite facility and baseload power to the Jamaican grid.