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Höegh LNG income falls

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LNG Industry,

Höegh LNG has announced a fall in total income from US$ 42.7 million in Q2 2013 to US$ 32.3 million in Q2 2014.

During the period, the PGN FSRU Lampung was delivered from the yard and connected to the offshore mooring system in Indonesia. It has now commenced commercial operation, received its first cargo of LNG through a ship-to-ship transfer and entered the final commissioning phase.

The FSRU Independence was also delivered from the yard and offered for short term employment prior to commencing the long term FSRU time charter with Klaipedos Nafta in Lithuania during the fourth quarter 2014.

Höegh LNG has also signed a Letter of Intent with Egyptian Natural Gas Holding Company for a 5 year contract for FSRU Höegh Gallant.

In July, Höegh FLNG entered into a revised and exclusive co-operation agreement with the owner of a North American barge based FLNG project, setting out a phased approach in developing the project.

In August, Höegh LNG Partners LP, a limited partnership formed by Höegh LNG Holdings Ltd., closed the initial public offering of 11 040 000 common units in the partnership raising US$ 220.8 million in gross proceeds.

Adapted from press release by

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