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Höegh LNG - Interim results for the period ended 31 December 2011

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Highlights

  • Total income of USD 30.0 million, up 18 % from the fourth quarter 2010
  • Operating profit before depreciation of USD 3.5 million, up from USD 3.3 million in the fourth quarter 2010
  • Awarded an engineering study for an FLNG solution for the Tamar gas field offshore Israel
  • Signed USD 288 million debt facility agreement
  • Signed 20 year charter agreement with PT Perusahaan Gas Negara for the Medan FSRU
  • Selected preferred bidder for a 10 year FSRU charter agreement with AB Klaipedos Nafta in Lithuania
  • Signed six month charter agreement for LNG Libra providing shipping services to North West Shelf
  • Raised USD 206 million in new equity in a private placement
  • Exercised option for delivery of one additional new FSRU from Hyundai Heavy Industries
"Höegh LNG has delivered another quarter of safe operations of its existing fleet of LNG carriers and regasification vessels.  The first two months of 2012 have been eventful with new charter agreements, equity raising and the ordering of a third new FSRU, and the level of activity remains high."

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 carriers and two floating storage and regasification units (FSRUs).  In addition to transporting LNG, the FSRUs act as floating LNG import terminals delivering natural gas to the market.  Höegh LNG has three FSRUs on order at Hyundai Heavy Industries.  The company holds a significant project development portfolio for 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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