Norway: Hoegh LNG Orders Third FSRU

Höegh LNG said today that it has exercised an option for a new FSRU to be built at Hyundai Heavy Industries in Korea.

The FSRU will be delivered in the second quarter of 2014, and its specifications will be adapted to comply with relevant project requirements.

Höegh LNG’s President and CEO, Sveinung Støhle, says: “With our two FSRUs on order allocated to specific projects in Indonesia and Lithuania, the Company continues focusing its growth plans at the floating regasification market, and is currently participating in several tender processes for additional FSRU projects. We have therefore decided to place an order for a third FSRU to be built at Hyundai. Our strategy to expand in the floating regasification market worldwide remains firm and we believe in strong continued growth in this segment.”

Höegh LNG also said that the company has raised about USD 200 million in gross proceeds through a private placement of 22,641,509 new shares.

[mappress]

LNG World News Staff, February 3, 2012