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Höegh LNG - Interim results for the quarter ended 31 December 2013

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Highlights

  • Total income of USD 51.6 million
  • Operating profit before depreciation of USD 8.9 million
  • Loss before tax of USD 4.2 million
  • Time charter for LNG Libra extended by Gas Natural until end 2014
  • Norman Lady sold for green recycling
  • GDF Suez Cape Ann employed as the first stationary FSRU in the Chinese market

Subsequent Events

  • Commitment letters received for a USD 400 million Senior Secured Credit Facility for the financing of FSRU #3 and FSRU #4

"We are pleased to see that both the Indonesian and Lithuanian FSRU projects are on schedule to commence operation in the second and fourth quarter 2014, respectively. The company sees increasing demand for FSRU projects and is currently involved in several tendering processes. The company is well positioned to meet start-up requirements of ongoing tenders with two uncommitted FSRUs under construction."

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 provider of floating LNG infrastructure services, offering regasification, transportation and production services under long-term contracts.  The company operates a fleet of two floating storage and regasification units (FSRUs) which act as floating LNG import terminals, and four LNG transportation vessels. In addition, Höegh LNG has four new FSRUs on order and has developed a solution for floating LNG production (FLNG).  Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London, Tampa and Jakarta.  The company employs about 85 office staff and 350 seafarers.

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Birgitte Hjertum, VP Strategy and Investor Relations, Telephone +47 975 57 432
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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