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Höegh signs agreements for FSRU conversion project

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LNG Industry,

Höegh LNG Holdings Ltd has announced that it has signed agreements with both Moss Maritime (engineering) and Wärtsila Oil and Gas (EPCIC regas) for its floating storage regasification unit (FSRU) conversion project. These include orders for critical equipment with long lead time.

Ordering this equipment in advance will allow the company to decrease its conversion schedule from 18 months to just 12 months. Taking this into account, the conversion project now is expected to be delivered by the end of 2017.

The President and CEO of Höegh LNG, Sveinung J. S. Støhle, said: “by doing FSRU conversions, Höegh LNG can capture additional business opportunities with start-up at the end of 2017 and in 2018, which our FSRU newbuilding programme cannot meet. Our strong in-house technical expertise and our ability to order critical equipment with limited risk due to our newbuilding programme, enables us to take advantage of the strong fundamentals in the FSRU segment."

Edited from press release by David Rowlands

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