Höegh LNG - Interim results for the period ended 30 June 2012

Highlights

• Net profit USD 0.6 million, up from a net loss of USD 2.7 million in the second quarter 2011
   
• Operating profit before depreciation USD 9.7 million, up 33 % from USD 7.3 million in the second quarter 2011
   
• Total income of USD 32.3 million, up 22 % from USD 26.5 million in the second quarter 2011
   
• Awarded a project specific engineering and cost study for a planned FLNG development in Asia
   
• Extended the time charter for Norman Lady at improved commercial terms

Subsequent Events

• LNG Libra delivered and commenced a six month charter for the North West Shelf project in Australia
   
• Commitment letters received for a USD 250 million senior secured credit facility for the debt financing of the Klaipedos Nafta FSRU

"It has been a good quarter where we have delivered a positive net result, in addition we have secured the financing of the Klaipedos Nafta FSRU.  We are very pleased with this."

Sveinung J.S. 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, regasification and terminal solutions for the liquefied natural gas (LNG) market.

The company operates a fleet of six LNG carriers and two floating storage and regasification units (FSRUs). In addition Höegh LNG has three FSRUs under construction at Hyundai Heavy Industries. The company holds a significant project development portfolio for floating regasification as well as floating LNG production (FLNG).

Höegh LNG is a Bermuda company, which has also established presence in Oslo, Singapore, London and Tampa. In total the Company employs about 80 office staff and about 350 sea farers.