RWE reportedly seeking 50% stake in Excelerate Energy

German utility RWE is hoping to acquire a stake in US-based LNG importer Excelerate Energy, according to Thomson Financial, citing a company spokeswoman.

Although Thomson Financial cited the insider as refusing to reveal the size of the stake that the company is hoping to secure, the publication said that according to Platts, RWE is looking to purchase 50% of Excelerate.

Excelerate is an attractive target for firms involved in LNG activities because of its specialized vessels that can re-gasify LNG onboard, eliminating the need for expensive LNG terminal infrastructure.

If the deal were to be finalized, it would add to the parties’ existing collaborations. Thomson Financial reported that the companies are planning to establish an LNG facility in Wilhelmshaven, Germany. In addition, RWE currently markets Excelerate’s gas in the UK.