Höegh LNG - Places order for its fifth FSRU at Hyundai in South Korea
Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") is pleased to announce that it has declared its option for a fifth FSRU at Hyundai Heavy Industries (HHI) in South Korea. The FSRU, which will be delivered during the first half 2017, has full trading capability and increased regasification capacity compared to the previous four FSRUs ordered at the yard. With this order, the company has seven modern, large size and fuel efficient FSRUs in operation or under construction, the most modern FSRU fleet in the market.
President and Chief Executive Officer Sveinung J.S. Støhle says: "Monday this week we secured long term contracts for the last two of the four FSRUs in our current expansion program, and we therefore continue to follow our successful strategy by ordering additional FSRUs when new contracts have been secured. The order at HHI is the initial part of the Company's next expansion program, and we continue to see strong growth in the FSRU market over the next three to four years, and contrary to some of our competitors the Company's main focus will remain the FSRU segment where we intend to continue building our position as the leading owner and operator."
About Höegh LNG
Höegh LNG is a provider of floating LNG infrastructure services, offering regasification, transportation and production services under long-term contracts. The company operates a fleet of five floating storage and regasification units (FSRUs) that act as floating LNG import terminals, and four LNG transportation vessels. In addition, Höegh LNG has two new FSRUs on order and has developed several solutions for floating LNG production (FLNG). Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London, Miami and Jakarta. The company employs approximately 95 office staff and 500 seafarers.
Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Birgitte Hjertum, VP Strategy and Investor Relations, Telephone +47 975 57 432
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