Hoegh LNG nearing FSRU newbuild order

Höegh LNG of Norway is moving forward with its plans to add another floating storage and regasification unit (FSRU) to its fleet.

The floating LNG giant has a fleet of eight FSRUs, with two of them still being constructed at South Korea’s Hyundai Heavy Industries.

“In preparations for the next FSRU newbuilding order, Höegh LNG issued a tender in June and expects to receive bids on an early 2019 delivery from six international ship-yards,” Höegh LNG said in its second-quarter report on Thursday.

However, the Oslo-Based company is still working to secure a contract for its seventh FSRU being built at HHI and will not order the new vessel until this contract is finalized.

“Assuming that a contract for the seventh FSRU is secured, the group will evaluate and make a decision on the bids in the second half of this year.”

Höegh LNG noted in the report it is pursuing several FSRU projects with expected start-up dates matching the delivery of its seventh FSRU, which is expected to be delivered in the first quarter of 2017.

The company said it is currently in a tender process for an FSRU project expected to be finalised shortly, adding that is also in bilateral discussions on a second and participating in a tender process on a third project, which both plan on making an investment decision in the near future.

LNG World News Staff