Hoegh LNG nabs FSRU number 5

President and CEO Sveinung J.S. Støhle said that the new orders for Floating Storage and Regasification units are just the start for the company’s next big expansion program
Hoegh LNG nabs FSRU number 5

Höegh LNG Holdings has declared its options for a fifth FSRU at Hyundai Heavy Industries (HHI).

The order takes the company up to seven modern floating storage and regasification units in operation or under construction, making it the most modern FSRU fleet on the market.

This fifth FSRU will have full trading capability and increased regasification capacity compared to the previous four FSRUs ordered at HHI. The unit is scheduled for delivery oin the first half of 2017.

President and Chief Executive Officer Sveinung J.S. Støhle says: "Monday this week we secured long term contracts for the last two of the four FSRUs in our current expansion program, and we therefore continue to follow our successful strategy by ordering additional FSRUs when new contracts have been secured. The order at HHI is the initial part of the company's next expansion program, and we continue to see strong growth in the FSRU market over the next three to four years, and contrary to some of our competitors the company's main focus will remain the FSRU segment where we intend to continue building our position as the leading owner and operator."

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by Laura Stackhouse

readmt.com Editor

Laura Stackhouse is the Web Editor of readmt.com, an official publication of the International Marine Purchasing Association (IMPA). To discuss news, features or contributing to readmt.com please get in touch.

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