Höegh LNG Partners completes acquisition of FSRU Höegh Grace

Höegh LNG Partners closed the transfer of a 49 percent ownership interest in the floating storage and regasification unit (FSRU) Höegh Grace.

Under the deal agreed with Höegh LNG mid-November, Höegh LNG Partners acquired 49 percent ownership in Höegh LNG Colombia Holding, the sole owner and operator of the FSRU.

The purchase price has been set at $85.9 million and has been settled with a combination of cash on hand and a drawing under its existing revolving credit facility.

The Partnership purchased its initial 51% interest in Grace Holding in January 2017.

Höegh LNG Partners has interests in five FSRUs with an average remaining firm contract duration of 11.7 years plus options as of September 30, 2017.