Höegh LNG Orders Four FSRUs at Samsung Heavy
Norway’s floating liquefied natural gas company Höegh LNG has signed a Letter of Intent (LOI) for one firm and three optional floating storage and regasification units (FSRUs) at South Korea’s Samsung Heavy Industries (SHI).
Complete shipbuilding contract for the firm vessel is expected to be signed by mid-January 2017.
According to a statement by Höegh LNG, the vessels have scheduled delivery dates of two units in 2019 and two vessels in 2020.
The 170,000-cbm FSRUs will have a regasification capacity of 750 MMScf/day and full trading capabilities.
President and Chief Executive Officer Sveinung J.S. Støhle says in a comment: "Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU newbuildings, in line with our declared strategy."
Sveinung added: "With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment."
Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs).
Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus growth plans on the FSRU market, with the objective of securing long-term contracts with strong counterparts at attractive returns.
