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Höegh LNG sells LNG carrier

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LNG Industry,

Höegh LNG Holdings Ltd has sold the LNG carrier LNG Libra to a Chinese energy company for approximately US$20 million. Höegh LNG has received 15% of the purchase price and will receive the remaining 85% by the end of the 1Q16, after the LNG carrier has completed her current charter with Gas Natural.

Höegh LNG's President and Chief Executive Officer, Sveinung J. S. Støhle, said: "LNG Libra was acquired to meet the bid conditions for a specific FSRU project as a conversion candidate, however, we succeeded in placing one of our newbuild FSRUs instead. Since [Höegh LNG's] main focus is newbuild FSRUs and these have become the preferred solution among LNG importers, LNG Libra is today a non-core asset, and therefore we are very pleased with having completed this transaction in a very challenging LNG shipping market."

Edited from press release by

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