Höegh LNG firms up FRSU newbuilding contract

Back on April 6, Höegh LNG Holdings Ltd. reported that it had signed a Letter of Intent (LOI) with Hyundai Heavy Industries Co. Ltd. (HHI) for the construction of two 170,000 cbm Floating Storage and Regasification Units (FSRUs) as well has 2 + 2 optional units.

Höegh LNG says it has today signed and entered into firm shipbuilding contracts with HHI for the building of the two FSRUs. The contract price of the two vessels is $ 253 million each and they are to be
delivered in the fourth quarter of 2013 and in the first quarter of 2014, respectively.

In addition, the parties have entered into an Option Agreement for 1 + 1 + 2 FSRUs. The 1 + 1 optional vessels are to be delivered in the second quarter and fourth quarter of 2014, if declared.

June 10, 2011