Höegh LNG has secured a three-year time charter contract for its floating storage and regasification unit (FSRU) Höegh Esperanza.
The deal, which was agreed with CNOOC Gas & Power Trading and Marketing (CNOOC), has a one-year extension option.
Under the contract, Höegh Esperanza will be utilised in FSRU mode at the Tianjin LNG terminal in China for no less than an agreed-upon minimum period each year, with the balance of the year in LNGC mode and/or FSRU mode.
The contract will commence with immediate effect, and has a rate structure that corresponds to the mode of use.
Höegh Esperanza was delivered from Hyundai Heavy Industries in South Korea in early April 2018. This high-specification FSRU is designed for open, closed or combined loop regasification operation.
It has a storage capacity of 170 000 cbm of LNG and a maximum regasification rate of 750 million standard cubic feet per day. It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion.