Höegh LNG signs firm shipbuilding order for FSRU at HHI in South Korea
Reference is made to the announcement on 3 February 2012 stating that Höegh LNG had exercised an option for a new Floating Storage and Regasification Unit ("FSRU") to be built at Hyundai Heavy Industries ("HHI") in South Korea. On 13 February 2012, the company signed the shipbuilding contract with HHI for this unit. The vessel will have a storage capacity of 170000 cbm, and in addition to acting as an FSRU will have the ability to trade as a standard LNG carrier. The vessel will be delivered in the second quarter of 2014. Höegh LNG has further been granted a new option for one additional FSRU with the same specifications as mentioned above with delivery in the first quarter 2015.
With this order, Höegh LNG now has three FSRUs on order at HHI, one for delivery in the fourth quarter 2013 which has been contracted to PGN in Indonesia, one for delivery in the first quarter 2014 which has been fixed to Klaipedos Nafta in Lithuania, the third for delivery in the second quarter of 2014, and this one is for the moment without contract. The company further holds priced options for two more FSRUs for delivery in the third quarter 2014 and the first quarter 2015. Höegh LNG will receive one additional option for each of the said options being exercised on a rolling basis.
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 carriers and two floating storage and regasification units (FSRUs). In addition to transporting LNG, the FSRUs act as floating LNG import terminals delivering natural gas to the market. Höegh LNG has three FSRUs on order at Hyundai Heavy Industries. The company holds a significant project development portfolio for 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