Samsung Heavy scores Hoegh LNG FSRU quartet

Norway’s Höegh LNG said it has signed a letter of intent for one firm and three optional FSRUs at Samsung Heavy Industries in South Korea.

According to a statement by Höegh LNG, the vessels have scheduled delivery dates of two units in 2019 and two vessels in 2020.

The 170,000-cbm FSRUs will have a regasification capacity of 750 MMScf/day and full trading capabilities.

Complete shipbuilding contract for the firm vessel is expected to be signed by mid-January 2017.

“Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU newbuildings, in line with our declared strategy,” Höegh LNG’s CEO Sveinung Støhle, said.

“With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment,” Støhle added.

To remind, Höegh LNG last week signed the FSRU contract with Quantum Power Ghana Gas for the Tema LNG import terminal located close to Accra.

The contract is for a period of 20 years with a five-year extension option.