Höegh LNG’s FSRU Independence to change owner

Lithuanian liquefied natural gas (LNG) terminal operator Klaipedos Nafta (KN) has exercised its option to acquire the floating storage regasification unit (FSRU) Independence from Norway’s floating terminal projects company Höegh LNG.

Archive; Courtesy of Hoegh LNG
FSRU Independence. Courtesy of Höegh LNG

The transfer of ownership is expected to occur in December 2024. Until then, the existing contract between a subsidiary of Höegh LNG and KN continues unchanged.

KN announced its intention to acquire FSRU Independence at the beginning of this year. The company has been leasing the unit since 2014 from Höegh LNG.

The purchase contract should be concluded no later than December 2024. Also, it is planned that KN will make additional decisions regarding the operation and management and registration of the vessel in 2022. 

As reported earlier by Offshore Energy, the purchase price of Independence is $153.5 million, excluding value-added tax (VAT).

“Since the start of its operation, the terminal has lived up to its name and purpose; today we have our independence from the Russian “gas needle” ensured, our supply markets successfully diversified and are also able to import natural gas from around the world. Under current geopolitical tensions, the decision to acquire the FSRU is an important and necessary decision to ensure our strategic energy ambitions”, Dainius Kreivys, minister of energy, said at the time.

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