Höegh LNG - Indonesia project update

An important milestone was reached at the keel laying of hull number 2548 at Hyundai Heavy Industries in South Korea on 27 February 2013.  The floating storage and regasification unit (FSRU) being built will be used as a floating LNG import terminal in Indonesia.  The term of the contract with Perusahaan Gas Negara is 20 years followed by two five year extension options.

The keel laying ceremony was attended by about 100 guests, including the Vice Minister for Energy and Mineral Resources of the Republic of Indonesia, Susilo Siswoutomo, the Chief Executive Officer of Perusahaan Gas Negara, Hendi Prio Santoso, the President and Chief Operating Officer of Hyundai Heavy Industries, Oi-Hyun Kim, and the President and Chief Executive Officer of Höegh LNG, Sveinung J.S. Støhle.

"We are very pleased to have reached this important milestone for our project with Perusahaan Gas Negara in Indonesia, and this confirms that the project overall is on schedule to start operations in June 2014, fully in line with our execution plans and on budget."

Sveinung J.S. Støhle
President and Chief Executive Officer


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 six LNG transportation vessels and two floating storage and regasification units (FSRUs). In addition, Höegh LNG has four new FSRUs on order and has developed a solution for floating LNG production (FLNG).  Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London and Tampa.  The Company employs about 80 office staff and about 350 sea farers.

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
Arild Jæger, Investor Relations, Telephone +47 975 57 408