Hoegh LNG Extends FSRU Option Agreements with Hyundai Heavy, South Korea

Hoegh LNG Extends FSRU Option Agreements with Hyundai Heavy, South Korea

Höegh LNG Holdings Ltd.  has extended its option agreements with Hyundai Heavy Industries Co. Ltd. (HHI) for the delivery of two FSRUs, that were to expire by mid December 2011 and mid January 2012, respectively.

Both option agreements are now valid into first quarter 2012. The Company’s third and fourth option agreements are not affected by this agreement.

The 170,000 cbm LNG FSRUs, measuring 294 meters in length and 46 meters in width, can store 70,000 tons of chilled natural gas.

LNG FSRUs receive liquefied natural gas from offloading LNG carriers. The installed regasification system provides gas send-out through flexible risers and pipelines to shore.

Höegh LNG is a fully integrated floating LNG services company with almost 40 years experience, offering long-term floating production, transportation, regasification and terminal solutions for the liquefied natural gas (LNG) market. The Company operates a fleet of five LNG marine transportation vessels and two shuttle and regasification vessels (SRVs). In addition to transporting LNG, the SRVs act as floating regasification terminals delivering natural gas to the market.

The Company holds a significant project development portfolio for both floating regasification as well as floating LNG production (FLNG). Headquartered in Oslo, Norway, Höegh LNG has established presence in Singapore, London and Florida. In total the Company employs about 70 office staff and about 350 sea farers.

Offshore Energy Today Staff, December 23, 2011; Image: Höegh LNG

 

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