Höegh LNG: Delivery of FSRU number ten, Höegh Galleon

Hamilton, Bermuda - 27 August 2019

Höegh LNG Holdings Ltd. (Höegh LNG) today took delivery of Höegh Galleon, its tenth floating storage and regasification unit (FSRU). This high-specification FSRU has been constructed at Samsung Heavy Industries in South Korea and has a storage capacity of 170 000 cbm of LNG and a regasification capacity of 750 million standard cubic feet per day. The vessel is equipped with a GTT Mark III membrane containment system and tri-fuel diesel-electric (TFDE) propulsion. The delivery of the Höegh Galleon marks the completion of Höegh LNG’s current newbuilding programme and confirms the company’s position as the industry leader in the FSRU market.

Höegh Galleon enters an 18-month interim time charter (TCP) with Cheniere Marketing International LLP (Cheniere) which will commence in September 2019. After the TCP with Cheniere the vessel is planned to move to Australia for AIE’s FSRU project in Port Kembla. Höegh LNG has been selected as the FSRU provider for by AIE, and Höegh Galleon is planned to serve the project from the end of 2020.

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