AxDo Bahamas Limited, a joint venture between Swiss-based energy trader Axpo and Bahamas-based energy and maritime logistics company Domicisle LNG, has signed an 11-year LNG supply agreement with US-based Excelerate Energy, a global leader in floating LNG infrastructure.

The agreement, announced on 5 November 2026, provides for deliveries of up to 16 trillion British thermal units (TBtu) of LNG a year and makes AxDo Bahamas an anchor customer of Excelerate Energy's planned offshore LNG storage and distribution terminal near the island of Grand Bahama.

Bahamas LNG Hub Targets Growing Caribbean Demand

The deal establishes a long-term commercial foundation for the Bahamas LNG Hub, a project intended to support growing LNG demand in The Bahamas and throughout the Caribbean.

According to the announcement, the combination of AxDo's shipping and bunkering expertise with Excelerate's LNG infrastructure and supply capabilities is intended to help meet that demand across the region.

A new joint venture for small-scale LNG and bunkering

The AxDo Bahamas joint venture was established in October 2026 to conduct small-scale LNG and bunkering operations in the region.

The agreement with Excelerate positions the venture at the centre of the planned hub, which 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 Caribbean.

Daniele Corti, Axpo's Head of Small-Scale LNG, 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."

Bahamian partner emphasises local energy security

Greg Buffington, Chief Executive Officer of Domicisle LNG, described the agreement as an important step forward for The Bahamas and the development of a reliable LNG supply network across its 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," he said.

"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."

Excelerate sees opportunity in integrated platform

Oliver Simpson, Executive Vice President and Chief Commercial Officer at Excelerate Energy, highlighted the role of the company's integrated platform in creating new opportunities around its infrastructure.

"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," Simpson said.

Phased rollout beginning in 2027

Initial LNG deliveries are expected to begin in 2027, utilising existing LNG supply and logistics capabilities from Excelerate's Jamaica platform.

A second phase is expected to include the 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 for the hub.

Grand Bahama's location in one of the Caribbean's busiest maritime corridors is described as strategically significant for the project. The island is positioned to support cruise ship bunkering, power generation, and regional LNG distribution demand while enhancing regional LNG logistics capabilities and energy security.

LNG as a transitional marine fuel

The announcement also notes the environmental case for LNG in the maritime sector, describing it as an important transitional solution to the reduction of emissions.

Compared with traditional marine fuels, LNG eliminates 100 percent of sulphur oxide (SOX) emissions, between 80 and 90 percent of nitrogen oxide (NOX) emissions, and 25 percent of CO₂ emissions.

The agreement brings together a joint venture formed only weeks before the announcement, a Bahamian logistics company focused on local distribution, and an infrastructure operator with an existing Caribbean platform in Jamaica.

With initial deliveries targeted for 2027 and floating storage slated for 2028, the parties are betting on sustained regional demand for natural gas from power producers, marine operators, and communities across The Bahamas and the wider Caribbean.

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