Höegh LNG has announced changes to its financial reporting segment structure with effect from the third quarter 2013. The new structure, which reflects the group’s new organisation and management responsibilities, will be divided into the following four segments:
Commercial segment
The commercial segment will be responsible for the commercial management of the group’s fleet of regasification and transportation vessels and tender activities for new regasification and transportation business.
Technical segment
The technical segment is responsible for the technical management of the group’s fleet of regasification and transportation vessels. The segment is also responsible for the delivery of new regasification and transportation projects. Upon delivery, the commercial management of such projects will be handed over to the commercial segment.
FLNG
The floating LNG (FLNG) segment is responsible for the marketing, building and operation of floating liquefaction plants for LNG.
Other
The other segment consists of group management, finance, legal and other corporate services.
The location of the FSRU has been changed at the request of the Indonesian government and as a result the agreement has been revised, Höegh will also now be reimbursed for the cost of the mooring system.
Höegh LNG has won the contract to build an FSRU in Quintero Bay, Chile, from Colbún S.A. and AES Gener S.A. The FSRU will be used to supply the client’s power plants.
Hoegh LNG has signed an agreement with PT Perusahaan Gas Negara (PGN) to provide them with an FSRU and mooring system offshore Belawan, near the city of Medan, in North Sumatra, Indonesia. The project will employ the first of Höegh LNG's new building FSRUs under construction at Hyundai Heavy Industries Ltd in Korea.
Höegh LNG Holdings Ltd. has entered into an agreement with Daewoo Shipbuilding & Marine Engineering Co. (DSME) to initiate a project specific FEED of an LNG FPSO solution for the Tamar gas field offshore Israel.