Höegh LNG: Delivery of FSRU number nine, "Höegh Gannet"

Hamilton, Bermuda - December 06, 2018

Höegh LNG Holdings Ltd. (Höegh LNG) today took delivery of Höegh Gannet, its ninth floating storage and regasification unit (FSRU). Höegh Gannet has regasification capacity of 1 Bcf per day and storage capacity of 170 000 cbm of LNG, combined making it the largest FSRU built by capacity. The unit has been constructed by Hyundai Heavy Industries in South Korea and is equipped with a reinforced GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion.

Höegh Gannet is part of HLNG’s ongoing tender processes for FSRU projects with scheduled start-up in the 2019-21 period. For the interim period between delivery and start-up under a long-term contract it will serve an LNGC charter with Naturgy, which starts immediately after the positioning voyage from the shipyard. This interim contract runs for 15 months, under which Höegh Gannet will earn a fixed dayrate in line with the historical medium term LNGC market.

About Höegh LNG:
Höegh LNG 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. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP (NYSE:HMLP). Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 155 office staff and 525 seafarers.

Höegh LNG press release