Höegh LNG - has executed an extension to the time charter with Gas Natural for LNG Libra
Reference is made to the stock exchange release dated 24 April 2013, where Höegh LNG Holdings Ltd. informed that the vessel LNG Libra, a 126,000 cubic meter LNG carrier with steam turbine propulsion, was chartered to Gas Natural for operation between Trinidad and Escobar, Argentina until mid November 2013.
Gas Natural has today exercised its option to extend the charter period with redelivery by year end 2014, a total period of around 13 months. In addition, Gas Natural has an option to extend the charter period with up to an additional 12 months to end December 2015.
The EBITDA contribution to Höegh LNG for the extended period is around USD 8.7 million. If the option for further extension is exercised, this will contribute around USD 6.6 million to the EBITDA.
President and CEO Sveinung J.S. Støhle says in a comment:
"We are very pleased that Gas Natural has extended the charter for LNG Libra and has indicated interest to charter the vessel until end 2015. We are looking forward to continue our good relationship with Gas Natural in the coming years, and this extension underlines the good relations with Gas Natural as well as Höegh LNG's excellent performance record."
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 two floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and four LNG transportation vessels. 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, Tampa and Jakarta. The company employs about 85 office staff and 350 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
Arild Jæger, Vice President, Strategy and Investor Relations, Telephone +47 975 57 408
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.