Höegh LNG : Delivery of FSRU number eight, Höegh Esperanza

Hamilton, Bermuda, 5 April 2018 - Höegh LNG Holdings Ltd. (Höegh LNG) today took delivery of Höegh Esperanza, its eight floating storage and regasification unit (FSRU). This high-specification FSRU has been constructed at Hyundai Heavy Industries in South Korea and is designed for open, combined and closed loop regasification operation. It has a storage capacity of 170 000 cbm of LNG and a maximum regasification throughput of 750 million standard cubic feet per day. It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion.

Höegh Esperanza is fully financed at a fixed interest rate of approximately 4%, with the USD 200 million debt portion expandable to USD 230 million once long-term employment has been secured, as further set out in the stock exchange notice of 24 July 2017.

Höegh LNG is currently in advanced negotiations for intermediate employment of Höegh Esperanza on a combined FSRU and LNGC contract with seasonal use in FSRU mode until the anticipated start date of its intended long-term FSRU contract in Chile

* * *

About Höegh LNG:


Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus its growth plans in the FSRU market, with the objective of securing long-term contracts with strong counterparties at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia, China and Turkey. The company employs approximately 115 office staff and 500 seafarers.

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone +47 975 57 406
Erik Folkeson, VP IR & Strategy, Telephone +47 414 21 769

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs.

Subscribe