Höegh LNG project update - PGN FSRU Lampung commences commercial operation

The PGN FSRU Lampung project offshore Indonesia reached an important milestone 21 July 2014 when the unit, along with its associated mooring and pipeline to shore was deemed mechanically complete and commenced commercial operation for its client Perusahaan Gas Negara (PGN). The PGN FSRU Lampung further completed receiving its first cargo of LNG through a Ship-To-Ship (STS) transfer on 27 July, and has now entered its final commissioning phase. The contract with PGN is for 20 years.

Sveinung J.S. Støhle, President and CEO of Höegh LNG Holdings Ltd. (the Company), commented: "We are proud to have commenced commercial operation of this technically advanced and innovative FSRU project for our client PGN. This is the largest and most complex FSRU project Höegh LNG has undertaken so far, and the project team and the Company deserves a lot of praise for their excellent performance. With the second and third FSRU scheduled to commence commercial operation later this year and the fourth FSRU being delivered in the first quarter next year, the Company is in the process of preparing for further expansion within the FSRU segment, thus demonstrating our commitment to keep growing the Company within the FSRU market."

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 four floating storage and regasification units (FSRUs) that act as floating LNG import terminals, and four LNG transportation vessels. In addition, Höegh LNG has two 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 approximately 95 office staff and 500 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.