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

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Highlights

  • Total income of USD 27.4 million, up 7 % from the third quarter 2010
  • Operating profit before depreciation of USD 8.6 million
  • Exclusive negotiations with PGN regarding the Medan FSRU project well advanced
  • Submitted bids for 4 FSRU projects
  • Acquired the LNG carrier "LNG Libra"

"Höegh LNG has continued to deliver safe and stable operation of its fleet through the third quarter 2011, while increasing its total income and operating profit before depreciation.  Negotiations with Perusahaan Gas Negara for the floating regasification terminal offshore Medan in Indonesia are progressing well.  Work on the two new regasification vessels ordered at Hyundai Heavy Industries Co. is progressing according to plan.  The market for LNG transportation remains good and we are working on several bids for new floating regasification terminals."

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, regasification 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.

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 staff 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, Head of 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.

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