Höegh LNG orders another FSRU at HHI

JUNE 1, 2015 — Höegh LNG Holdings Ltd. has ordered another floating LNG import terminal. The news follows last week’s announcement that the company had signed an FSRU contract yesterday with Octopus LNG SpA for the Penco-Lirquén LNG import terminal in Chile (see earlier story).

Today, the company reported that it has ordered its FSRU#8 at shipbuilder Hyundai Heavy Industries (HHI) in South Korea.FSRU#8 is designed to the highest specifications, has full trading capability, regas capacity of 750 MMscf/day, and will be delivered in Q1 2018. The agreement with HHI also includes a firm priced option for an FSRU#9, with a predefined delivery window.

The company now has eight, large size FSRUs in operation or under construction.

“After signing the long term contract with Octopus LNG last week we stay firm to our business model with the order of FSRU#8 plus options,” says President and Chief Executive Officer Sveinung J.S. Støhle says. “Our plan to grow our FSRU fleet step- by-step with the objective to double it by 2019 remains firmly in place. We continue to see strong demand for our FSRU services, and with the highest technical specification on our newbuild FSRUs at competitive prices, Höegh LNG remains the leading company in the FSRU segment and we are very well positioned to continue increasing our market share in the coming years.”