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Höegh LNG announces 3Q16 results

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LNG Industry,

In its 3Q16 results, Höegh LNG has announced an EBITDA of US$26.5 million, which is in line with US$27 million in 2Q16.

The company’s profit after tax in the period was US$3.3 million, which was slightly down on the previous quarter (US$3.5 million).

A dividend of US$0.10/share was paid in 3Q16, and the same dividend has been declared for 4Q16.

During the period, Höegh Grace entered the commissioning phase under the SPEC contract in Colombia.

The President and CEO of Höegh LNG Holdings Ltd, Sveinung J. S. Støhle, said: "We continue to focus on operational excellence and project execution, and are proud to have a technical availability across our fleet of close to 100%, which forms the basis for the stable operating results and dividend payments. With plenty of LNG being available at competitive prices, our customers continue to increase the throughput rate on our FSRU fleet, further reinforcing the economic attractiveness of FSRUs. Höegh Grace is currently in the commissioning phase and that addition takes our FSRU fleet on long term contracts to six units. By delivering on our growth strategy we continue to strengthen our operational platform, as well as creating the basis for accretive drop-downs to Höegh LNG Partners LP."

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