Excelerate Energy and AxDo Bahamas Announce Long-Term LNG Supply Agreement Supporting Planned Bahamas LNG Hub

THE WOODLANDS, Texas--(BUSINESS WIRE)--Nov 5, 2026--

Excelerate Energy, Inc. ("Excelerate") (NYSE: EE) and AxDo Bahamas Ltd. ("AxDo") – a joint venture between Axpo, an international leader in energy trading and marketing, and Bahamas-based energy and maritime logistics company Domicisle LNG – today announced an 11-year LNG supply agreement supporting development of the Bahamas LNG Hub.

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Under the agreement, AxDo, established in October 2026 to conduct small-scale LNG and bunkering operations in the region, will become an anchor customer of Excelerate’s planned offshore LNG storage and distribution terminal near the island of Grand Bahama. The supply agreement provides for deliveries of up to 16 trillion British thermal units (TBtu) of LNG a year, establishing a long-term commercial foundation for the project.

The combination of AxDo’s shipping and bunkering expertise with Excelerate’s LNG infrastructure and supply capabilities is intended to help meet growing LNG demand across The Bahamas and the broader Caribbean.

“The Bahamas LNG Hub demonstrates the potential of our integrated platform to create new opportunities around our infrastructure,” said Oliver Simpson, Executive Vice President and Chief Commercial Officer of Excelerate Energy. “By combining LNG supply, logistics and infrastructure with strong downstream partners, we can develop new markets and expand access to natural gas across the region. We’re pleased to partner with AxDo and look forward to supporting growing demand in The Bahamas and throughout the Caribbean.”

Axpo’s Head of Small-Scale LNG Daniele Corti said, “Reliable access to energy is essential for the continued development of The Bahamas and the wider Caribbean. Axpo brings extensive experience in energy markets and international supply chains. This agreement allows us to apply that know-how to the Caribbean, working with key partners Excelerate and Domicisle to support the development of a flexible LNG hub for The Bahamas and the wider region.”

Domicisle LNG Chief Executive Officer Greg Buffington added, “This agreement represents an important step forward for The Bahamas and for the development of a reliable LNG supply network across our islands. As a Bahamian-based company, our focus is on making cleaner-burning natural gas more accessible to power producers, marine operators and communities that need dependable energy. By combining Domicisle’s local market knowledge and distribution capabilities with Axpo’s international energy expertise and Excelerate’s LNG infrastructure, we are building a practical foundation for long-term energy security and economic growth in The Bahamas and the wider Caribbean.”

A Strategic LNG Hub for The Bahamas

The planned Bahamas LNG Hub is intended to support growing LNG demand in The Bahamas and throughout the Caribbean. The project is designed to provide LNG storage and distribution services for marine bunkering, power generation, and other downstream customers while expanding access to natural gas across the region.

Initial LNG deliveries are expected to begin in 2027 utilizing existing LNG supply and logistics capabilities from Excelerate’s Jamaica platform. A second phase is expected to include deployment of a floating storage unit (FSU) near Grand Bahama in 2028, subject to final permitting and construction timelines, and other contractual provisions. The FSU will serve as the offshore LNG storage and distribution terminal.

Located in one of the Caribbean’s busiest maritime corridors, Grand Bahama is strategically positioned to support cruise ship bunkering, power generation and regional LNG distribution demand while enhancing regional LNG logistics capabilities and energy security.

About Excelerate Energy

Excelerate Energy, Inc. is a U.S.-based LNG and power infrastructure company located in The Woodlands, Texas. Excelerate helps countries around the world enhance their energy security by providing reliable energy infrastructure and increasing access to global LNG markets. The Company delivers services along the LNG-to-power value chain, including floating regasification terminals, downstream infrastructure development, LNG supply, and power generation. Excelerate has a presence in Abu Dhabi, Antwerp, Aqaba, Boston, Buenos Aires, Chattogram, Dhaka, Doha, Dubai, Hanoi, Helsinki, Jamaica, Karachi, London, Rio de Janeiro, Singapore, Washington, D.C., and Wilhelmshaven. For more information, please visit www.excelerateenergy.com.

About Axpo

Axpo is driven by a single purpose - to enable a sustainable future through innovative energy solutions. Axpo is Switzerland's largest energy producer and an international leader in energy trading and the marketing of solar and wind power. Axpo combines the experience and expertise of about 7,500 employees who are driven by a passion for innovation, collaboration and impactful change. Using cutting-edge technologies, Axpo innovates to meet the evolving needs of its customers in more than 30 countries across Europe, North America and Asia.

About Domicisle LNG

Domicisle LNG is a Bahamas-based energy company focused on developing liquefied natural gas (LNG) supply, distribution and marine logistics solutions for The Bahamas and the wider Caribbean. The company works to expand access to dependable, cleaner-burning fuel for electricity generation, marine bunkering and commercial and industrial customers, including communities throughout the Family Islands. Through its participation in AxDo Bahamas Limited, a joint venture with Axpo, Domicisle LNG combines local knowledge and downstream market development with international LNG sourcing and infrastructure expertise.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including, without limitation, statements regarding the anticipated benefits of long-term LNG supply agreement among the parties and the planned Bahamas LNG Hub and the timing and capabilities thereof are forward-looking statements. All forward-looking statements are based on assumptions or judgments about future events that may or may not be correct or necessarily take place and that are by their nature subject to significant risks, uncertainties and contingencies, including the risk factors that Excelerate identifies in its Securities and Exchange Commission filings, many of which are outside the control of Excelerate, Axpo or Domicisle LNG. The results, events, and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. The forward-looking statements made in this press release relate only to events as of the date on which the statements are made. Excelerate, Axpo and Domicisle LNG undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.

Excelerate Energy and AxDo Bahamas Announce Long-Term LNG Supply Agreement Supporting Planned Bahamas LNG Hub

NEW YORK (AP) — President Donald Trump's lawyers tried Thursday to persuade a New York appeals court to throw out his hush money conviction, two years after it made history.

The conviction, on 34 felony counts of falsifying business records to obscure a $130,000 payment to adult film performer Stormy Daniels, continues to nettle Trump enough that he denounced it on social media as recently as September. The president denies any wrongdoing, and he has turned to state and federal courts in hopes of unwinding the verdict.

He didn't attend Thursday's court session, where a panel of five appellate judges peppered prosecutors and his lawyer with questions but didn't immediately rule.

Much of the back-and-forth focused on prosecutors' legal theory that the hush money was meant to keep unflattering information about Trump away from the electorate before the 2016 vote, and that it amounted to an illegal campaign contribution under the Federal Election Campaign Act.

Trump lawyer Robert Giuffra Jr. told the judges that Manhattan District Attorney Alvin Bragg's office has no place tying a case to a federal election law.

“We think it’s the most obvious ground for reversal,” he said.

Prosecutors argued that they weren’t prosecuting an alleged federal campaign finance offense, but rather presenting it as a fact underlying what they claim was a conspiracy that led to phony records.

“So are you relying upon FECA in order to prove your falsifying business records (charge)?” Justice Troy Webber asked.

“Only partially,” replied Bragg's appeals chief, Steven Wu, adding that it was “important only to show that the purpose for the falsifying business records here was to conceal that conspiracy.”

The appeal also concerns whether jurors should have been allowed to hear testimony about supposed White House workflow and conversations — some with then-Communications Director Hope Hicks — and even Trump social media posts during his first term. His lawyers cite presidential immunity for official acts, and they argue his official conduct included responding to the Daniels drama once it became public in 2018.

“Ms. Hicks was serving as a White House official,” talking with the president about how to respond to press inquiries that implicitly concerned his fitness for office, Giuffra told the appeals judges.

Wu countered later: “In this conversation, they were not speaking about a press response. ... The president was talking to her about his private opinion.”

The appeals judges pressed both sides about the matter and the specifics of Hicks' testimony. She told jurors that she asked Trump how he wanted to respond, but as for what he said, she testified only that he expressed relief that the Daniels story hadn't emerged during the campaign.

Bragg's office contends that all the White House-related evidence was fair game. The conversations were “unofficial conduct,” some of the other evidence was public record, and some was a general description of office practices, prosecutors say. They maintain that even if some of the evidence should have been excluded, its admission was a “harmless error” that doesn't warrant overturning a conviction that rested on “a mountain” of other proof against Trump.

Justice Bahaati E. Pitt-Burke wondered aloud about that.

“If you take all of those things cumulatively, right, and there’s a problem with this evidence, there’s a problem with this evidence, at what point ... does it stop being harmless error and turn into something else?” she asked.

“It would have to be a lot more than there was in this case,” Wu responded.

While the appeal turns on complex legal disputes, political overtones aren’t hard to find. The very first paragraph of one of the Trump team’s court filings contended that the case was the flimsy product of “immense political pressure” on a Democratic prosecutor to go after Trump — rhetoric that echoes the Republican president’s own oft-repeated claims in the court of public opinion.

The May 2024 verdict made Trump the first former — and now current — U.S. president with a criminal conviction. While historic, it didn’t impede his return to the White House or subject him to any punishment.

The trial involved $130,000 that Daniels got from Trump's then-fixer and lawyer, Michael Cohen, weeks before the 2016 election. The money bought, for a time, her silence about an alleged sexual encounter with the married Trump a decade earlier. He says that nothing sexual happened between them.

Trump's company reimbursed Cohen in 2017, logging those payments as legal expenses.

Trump's lawyers argue there’s only “weak” evidence that he even knew about Cohen’s dealings at the time. His trial attorneys also said that payments to Cohen were indeed legal expenses, and that any hush money expended on Trump's behalf wasn't hidden campaign spending, just an effort to avoid embarrassing his family.

The distinction matters because, under New York law, falsifying business records isn't a felony unless it's done with an intent to commit or conceal a separate crime.

While pursuing his state appeal, Trump also has been trying to shift the case to federal court and have it dismissed on immunity grounds. A federal judge said no — for the third time — in August. Trump's attorneys are appealing that decision, with arguments set for Nov. 16.

FILE - Former President Donald Trump waits for the start of proceedings in his trial at Manhattan criminal court, May 13, 2024, in New York. (AP Photo/Seth Wenig, Pool, File)