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Höegh LNG - Interim results for the period ended 30 June 2011

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Highlights

  • Höegh LNG reports operating profit before depreciation of USD 7.3 million and a net loss before tax of USD 3.0 million for the second quarter 2011
  • Firm orders placed for two Floating Storage and Regasification Units (FSRU) with options for 1+1+2
  • Firm financing offers received for a USD 272 million debt facility for the financing of two FSRUs
  • Höegh LNG selected the preferred bidder for the Medan FSRU project in North Sumatra, Indonesia.  Exclusive negotiations with the project owner, Perusahaan Gas Negara (PGN), on-going
  • USD 132 million in new equity raised and the Company's shares listed on the Oslo Stock Exchange
  • Agreement to purchase the LNG carrier "LNG Libra" entered into
  • Pre-qualified for the next FSRU project in Indonesia (Central Java)


"Höegh LNG has reached several important milestones recently.  The company has ordered two new floating storage and regasification units, raised new equity and been listed on the Oslo Stock Exchange. Höegh LNG has further been selected the preferred bidder for a floating regasification terminal in Medan, Indonesia. The market outlook remains strong and many new projects are expected to come to the market over the next 12 months."

Sveinung Støhle
President and Chief Executive Officer

Reference is made to Höegh LNG's interim report and presentation published on the Oslo Stock Exchange's www.newsweb.no and on www.hoeghlng.com.

About Höegh LNG

Höegh LNG is a fully integrated floating LNG services company with almost 40 years experience, offering long-term floating production, transportation, re- gasification and terminal solutions for the Liquefied Natural Gas (LNG) market. The Company operates a fleet of five LNG marine transportation vessels and two Shuttle and Regasification vessels (SRVs). In addition to transporting LNG, the SRVs act as floating regasification terminals delivering natural gas to the market. In addition, the Company holds a significant project development portfolio for both floating regasification as well as floating LNG production (FLNG). Headquartered in Oslo, Norway, Höegh LNG has established presence in Singapore, London, and Florida. In total the Company employs about 70 office employees and about 350 sea farers.

Contacts:

Sveinung 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

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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