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Höegh LNG : Interim results for the quarter and year ended 31 December 2020

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Hamilton, Bermuda, 25 February 2021 - Höegh LNG Holdings Ltd. ("Höegh LNG") today reports its financial results for the quarter and year ended 31 December 2020.

Highlights for the fourth quarter of 2020:

  • EBITDA of USD 55.2 million
  • Net profit of USD 0.8 million
  • Stable operations despite continued challenges from Covid-19
  • Safe and reliable operations in 2020, one LTI and technical availability of 99.7%
  • Secured new long-term FSRU contract in Jaigarh, India

Subsequent events:

  • Revised Vision and Mission statements – establishment of “Clean Energy” business area
  • New ESG framework based on the UN Sustainable Development Goals to be implemented from 2021
  • Secured interim LNGC contracts for three FSRUs
  • HMLP issued new common units and Series A preferred units in January under its ATM programme equal to USD 9.1 million in net proceeds

​​​​​​​The President and CEO of Höegh LNG Sveinung J.S. Støhle comments: “In addition to securing the long-term FSRU contract for Höegh Giant in India with scheduled start-up in the coming weeks, Hoegh LNG is making good progress in completing additional long term FSRU employment for its fleet, and the objective is to conclude firm long-term FSRU contracts by the end of 2021 for the units currently on short-term contracts. In line with its strong sustainability strategy, the company has established a Clean Energy business area focused on deveolping infrastructure solutions for the transportation, storage and distribution of green hydrogen and ammonia, as well as developing floating Carbon Capture and Storage solutions. This initiative will support Höegh LNG’s leading industrial platform and high-quality, modern assets in driving forward the energy transition well into the future”

 

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Contacts: 

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402 
Håvard Furu, Chief Financial Officer, Telephone +47 991 23 443
Knut Johan Arnholdt, VP IR and Strategy, Telephone +47 922 59 131

About Höegh LNG: 

Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, China, Indonesia, Lithuania, Egypt, Colombia and the Philippines. The group employs approximately 175 office staff and 600 seafarers.

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