Höegh LNG - Signs LOI/Term-sheet with EGAS of Egypt for FSRU
Höegh LNG Holdings Ltd. (HLNG or Company) is pleased to announce that the Company has signed a Letter of Intent (LOI) with Egyptian Natural Gas Holding Company (Egas) for the use of one of its Floating Storage and Regasification Units (FSRUs) under construction at Hyundai Heavy Industries as an LNG import terminal in the port of Ain Sokhna, located on the Red Sea's Gulf of Suez. The FSRU will be moored at a jetty which has been finalized as part of Egas scope, with topsides to be supplied by HLNG. The LOI is for a 5 year FSRU contract expected to generate an average annual EBIDA of