Höegh LNG: Interim results for the quarter and year ended 31 December 2023

Hamilton, Bermuda, 28 February 2024 - Höegh LNG Holdings Ltd. ("Höegh LNG") today reports its interim financial results for the quarter and year ended 31 December 2023. The group reported an EBITDA of USD 78 million for the fourth quarter of 2023, compared to USD 89 million for the preceding quarter.

In the fourth quarter, Höegh LNG completed the refinancing of Hoegh Gannet and entered into partnership with VTTI B.V to develop a new energy terminal in or near the port of Vlissingen in the Netherlands. In addition, the charterer of Höegh Grace waived its termination option in 2026, which means that Höegh Grace will continue its employment in Colombia at least until 2031.

Subsequent to the quarter end, Hoegh Galleon was successfully refinanced and the group has extended its USD 100 million corporate credit facility until January 2025. As previously announced, Höegh LNG has also signed a settlement agreement with the charterer of PGN FSRU Lampung, resulting in a withdrawal of the pending arbitration proceedings.