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Höegh signs FSRU contract with HHI

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LNG Industry,

Höegh LNG Holdings Ltd has announced that it has signed a shipbuilding contract with Hyundai Heavy Industries Co. Ltd (HHI) for a new floating storage and regasification unit (FSRU).

This follows the company’s announcement that it has also signed agreements with Samsung Heavy Industries (SHI) for one firm FSRU and three optional additional FSRUs.

The vessel for HHI will have a storage capacity of 170 000 m3 and a maximum regasification capacity of 1000 million ft3/d, with full trading capabilities. It is scheduled for delivery in 4Q18.

The FSRU will be allocated to Global Energy Infrastructure Ltd (GEIL) for the LNG import project in Port Qasim, near Karachi, Pakistan. This project is scheduled to start-up in 2Q18. The initial period of the GEIL charter from 2Q18 will be covered by an interim FSRU from Höegh LNG's portfolio until the new FSRU is delivered.

Sveinung J. S. Støhle, the President and CEO of Höegh LNG, said: “First of all I am very pleased that Höegh LNG through its newbuilding programme and market position has been able to establish a contract coverage solution which is in line with our strategy of building new FSRUs. Secondly, I am proud to see that through Höegh LNG's innovative approach and in-house design of our FSRUs coupled with our long-standing relationship with HHI, Höegh LNG has been able to secure a newbuilt FSRU in the shortest possible time. With this order, Höegh LNG now has 10 large size newbuilt FSRUs in operation or under construction, preserving our position as the market leader in the FSRU segment."

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Pakistan LNG news LNG import news