Höegh LNG to Provide FSRU to AGL’s LNG Project

Norway-based Höegh LNG has been selected for the provision of a floating storage and regasification unit (FSRU) for AGL Energy’s new LNG import project in Victoria, Australia.

The company said it entered into an FSRU time charter with AGL Shipping to facilitate its proposed Gas Import Jetty project at Crib Point, Victoria, that is targeting start up in 2020 – 2021.

The charter is for a period of 10 years and remains conditional on the board of directors of AGL Energy Ltd taking a final investment decision in relation to the project and receipt by the charterer of key environmental project approvals.

The FSRU assigned to the project is expected to generate annual EBITDA of between USD 29 million and USD 31 million depending on planned technical modifications that may be specified by AGL before project start-up, Höegh LNG explained.