Höegh LNG - New organisational structure to prepare for delivery and start-up of new FSRUs

To prepare the Group for delivering and starting up four major FSRU projects over the next 18 months, Höegh LNG will with effect from 1 September 2013 have a new organisation in place, consisting of four main areas; technical, commercial, financial and administrative.

The new group management team will consist of

- Sveinung J.S. Støhle, President and Chief Executive Officer
- Stephan Tschudi-Madsen, Chief Administrative Officer
- Ragnar Wisløff, Chief Commercial Officer
- Steffen Føreid, Chief Financial Officer, and
- Vegard Hellekleiv, Chief Technical Officer.

Höegh LNG's President and CEO, Sveinung J.S. Støhle, says in a comment:

"We have been very successful in the market over the past few years.  Höegh LNG has won important long-term FSRU contracts and we continue to build our business.  In order to optimise the way we work and to improve our competitive position in the future, we are adapting our organisation to reflect these changes."

The new organisation will become operative with effect from 1 September 2013.

Höegh LNG expects its financial reporting to follow the new structure from 1 January 2014.


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 six LNG transportation vessels and two floating storage and regasification units (FSRUs). 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 and Tampa.  The Company employs about 80 office staff and about 350 sea farers.

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
Arild Jæger, Investor Relations, Telephone +47 975 57 408