Photo: Image courtesy of Höegh LNG

Höegh LNG, China Construction Bank in FSRU deal

Norway-based FSRU provider Höegh LNG said it has signed a 12-year sale and leaseback agreement with China Construction Bank Financial Leasing for its 10th FSRU.

Höegh LNG said in a brief statement through its social media channels the deal provides further diversification of its funding sources as it partners up with the world’s second-largest bank.

FSRU #10 is scheduled for delivery from Samsung Heavy Industries by August 2019, and the unit is part of ongoing processes related to long-term FSRU contracts with start-up in 2020 and 2021.

The company intends to deploy the FSRU at Australian Industrial Energy’s import project at Port Kembla, Australia.

Höegh LNG continues to evaluate alternatives for interim employment of the unit, with the ambition of best-combining exposure to the improving LNG carrier market and the certainty of cash flows, the company said at the end of May.

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