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Höegh LNG signs FSRU LOI

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LNG Industry,

Höegh LNG Holdings Ltd has announced that it has signed a Letter of Intent (LOI) for one firm and three optional floating storage regasification units (FSRUs) at Samsung Heavy Industries (SHI) in South Korea.

The 170 000 m3 FSRUs have a regasification capacity of 750 million standard ft3/d and full trading capabilities. The FSRUs have scheduled delivery dates of two units in 2019 and two units in 2020. Complete shipbuilding contract for the firm vessel is expected to be signed by mid-January 2017.

Höegh LNG’s President and Chief Executive Officer (CEO), Sveinung J.S. Støhle, said: "Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU newbuildings, in line with our declared strategy. With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favourable newbuilding market to position itself for further expansion in the FSRU segment."

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