Proceeds from the term loan and cash on hand were used to purchase the FSRU Sequoia. "We are proud to add the FSRU Sequoia to the Excelerate portfolio of fully owned assets," said Steven Kobos, President and CEO of Excelerate. "Acquiring the Sequoia, at a price well below current market value, ensures the vessel will remain an integral part of the Excelerate fleet for the long term. We look forward to continuing to utilize the FSRU Sequoia to provide flexible access to cleaner and more reliable energy to our valued markets." The FSRU Sequoia was delivered as a new build to Excelerate Energy's fleet in June 2020 under a five-year bareboat charter. The FSRU Sequoia has a storage capacity of 173,400 cubic meters and can operate as both an FSRU and a traditional LNG carrier.