Hoegh LNG and Nakilat sign MoU to explore FSRU opportunities

Höegh LNG President and CEO Sveinung J.S. Støhle and Nakilat Managing Director Eng. Abdullah Al-Sulaiti

ULY 18, 2017 — Höegh LNG today signed a Memorandum of Understanding (MoU) with Qatari LNG transportation company Nakilat, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business.

An FSRU is essentially a floating LNG import terminal, making the technology an attractive solution for countries without LNG receiving terminal infrastructure. They also have the flexibility to be relocated or used as an LNG carrier.

Nakilat’s LNG shipping fleet is the largest in the world, comprising of 63 LNG vessels. Nakilat also owns and manages four large LPG carriers. It operates the ship repair and shipbuilding facilities at Erhama Bin Jaber Al Jalahma Shipyard in Ras Laffan Industrial City via two strategic joint ventures: N-KOM and NDSQ

Nakilat’s Managing Director Eng. Abdullah Al-Sulaiti said, “Nakilat views this strategic alliance with Höegh LNG, a leading owner and operator of FSRUs, as a huge stepping stone for further growth. This agreement paves the way for greater business opportunities to create substantial platforms for local players to get involved in the project, exposing them to innovative technologies and expertise that would be beneficial to their growth and the development of Qatar’s energy and maritime industry. Nakilat is always looking at opportunities of diversifying solutions to deliver clean energy worldwide, supporting the rising global demand for LNG.”

Mr Sveinung J.S. Støhle, President and CEO of Höegh LNG said, “We are pleased and very proud to be partnering with Nakilat, the largest LNG carrier company and look forward to jointly contribute to expanding the global market for LNG. The alliance with Nakilat is a confirmation of Höegh LNG’s leading position in the FSRU market and offers the opportunity to further accelerate our market presence beyond the projects we undertake on a sole basis.”