Höegh LNG has entered into an agreement for the LNG carrier "LNG Libra" for shipping services to the North West Shelf project in Australia.  The six month charter is expected to commence in July 2012, following the delivery of the vessel from its previous owner to Höegh LNG.

The EBITDA contribution from the six month charter is expected to be approximately USD 12 million, which represents attractive returns for shareholders and is a positive indicator of the current market for LNG shipping.

Höegh LNG's President and Chief Executive, Sveinung Støhle, said in a comment "We are pleased to service the North West Shelf project and look forward to developing this business relationship going forward."

 

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.