Hoegh Gallant transfer closed

Höegh LNG of Norway said it has closed the transfer of the FSRU Höegh Gallant to Höegh LNG Partners.

As reported in August, Höegh LNG reached an agreement to sell the FSRU Höegh Gallant to Höegh LNG Partners (HMLP) for a purchase price of USD 370 million.

Höegh Gallant is operating under a charter with the government-owned Egyptian Natural Gas Holding Company that expires in April 2020.

Under the deal, HMLP has the right to cause Höegh to charter the vessel from the expiry of the EGAS charter until July 2025 at a rate equal to 90% of the rate payable pursuant to the current charter.

LNG World News Staff; Image: Höegh LNG