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Höegh LNG - Interim results for the period ended 31 March 2012

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Highlights

  • Total income of USD 27.7 million, up 7 % from the first quarter 2011
  • Operating profit before depreciation of USD 5.8 million, down from 6.7 million in the first quarter 2011
  • Signed 20 year FSRU charter agreement with Perusahaan Gas Negara
  • Signed 10 year FSRU charter agreement with Klaipedos Nafta
  • Signed six month LNG carrier charter agreement for LNG Libra
  • Raised USD 208 million in gross new equity

    "We are pleased to have secured long-term contracts for two new FSRUs and ordered a third vessel during the quarter.  We believe the market outlook is good and we continue our efforts to expand our business."

    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 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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