Hoegh LNG secures $223 million for seventh FSRU

  • Vessels

Oslo-Based Höegh LNG on Monday said it has secured US$223 million bank financing for its seventh FSRU newbuild. 

The vessel is scheduled for delivery by the end of the first quarter in 2017, the company said in a statement.

It is also revealed that the financing will fund 65 percent of the delivered cost with a 15-year amortization profile increasing to 75 percent and 20 years once the long-term contract is secured.

Höegh LNG said the financing, together with the FSRU can be dropped down to Höegh LNG Partners.

The company recently halted its FLNG operations in order to focus all its resources and capital into the FSRU business. Höegh LNG said the FSRU business is where the company sees the highest return on invested capital and the most promising market prospects.

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LNG World News Staff

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