FSRU Newbuilding Becomes Part of Höegh LNG’s Fleet

Floating energy solutions provider Höegh LNG took delivery of its latest newbuilding, the 170,000 cbm Höegh Giant, on April 27, the company informed via social media.

Featuring a length of 294 meters and a width of 46 meters, the floating storage and regasification unit (FSRU) was constructed by the South Korean shipbuilder Hyundai Heavy Industries.

The FSRU is set to start working for the Tema LNG Project in Ghana under a 20-year charter contract with Quantum Power (QP), Höegh LNG earlier informed.

The charterer has a five-year extension option for the contract. Start-up under the deal is expected in mid-2018.

Höegh LNG has three more FSRUs under construction, which are scheduled for delivery in the first and fourth quarters of 2018, and the second quarter of 2019, respectively.

“We have 10 FSRUs in operation or under construction, and intend to continue growing by winning more contracts and adding to our newbuilding programme while seamlessly starting up commercial operations in new locations. Our ambition is to remain the market leader in the FSRU industry,” Sveinung J.S. Støhle, President and CEO, said.

Separately, Höegh LNG presented the financial results for the full year 2016, saying that the company’s total income was USD 232.9 million, up 6.2% from the previous year USD 219.4 million, while operating profit before depreciation (EBITDA) for the period increased to USD 111.3 million from USD 90.3 million seen in 2015.

World Maritime News Staff

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