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Höegh LNG and New Fortress Energy sign FSRU deal

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LNG Industry,


Mayer Brown advised Höegh LNG, which provides maritime transportation and storage of LNG, on the long-term charter and operation and service agreements for an FSRU.

Höegh LNG has agreed to receive, store, and regasify LNG to supply natural gas, as well as provide other FSRU operations and services, to a subsidiary of New Fortress Energy Inc. for a term of 10 years.

The FSRU, which is scheduled to begin operations in the 4Q21, will be deployed at the Old Harbour Bay in Jamaica.

"This is a fantastic achievement for Höegh LNG, and we were very pleased to support the team on the successful conclusion on the agreements with New Fortress Energy,” said Mayer Brown LNG Practice Leader for Asia Nick Kouvaritakis. “This transaction cements Höegh LNG’s position as a market leading FSRU provider, and we are optimistic the FSRU market will continue to grow as a number of developing economies look to utilise FSRUs as a solution to meet rising energy demands in the post COVID-19 environment."

The Mayer Brown team was led by Singapore partner Nick Kouvaritakis and included Houston partner Thomas Moore, and Singapore counsel Sean Prior and associates Shi Ning Ong and Kieran McLaughlin.

Read the article online at: https://www.lngindustry.com/floating-lng/01102021/hegh-lng-and-new-fortress-energy-sign-fsru-deal/

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