Oslo-headquartered Norway's Höegh LNG reported net income for the forth quarter of 2011 of US$ 30.0 million, a 18-percent gain from Q4 2010 figures, the Company press release said.
In the reporting period, Höegh LNG operating profit before depreciation totaled $3.5 million, versus $3.3 million a year earlier.
In Q4, 2011 Höegh LNG secured a contract for engineering study for an FLNG solution for the Tamar gas field offshore Israel.
Besides, the Company signed $288 million debt facility agreement and a 20-year charter agreement with PT Perusahaan Gas Negara for the Medan FSRU, selected preferred bidder for a 10 year FSRU charter agreement with AB Klaipedos Nafta in Lithuania, a six-month charter agreement for LNG Libra providing shipping services to North West Shelf.
In 2011, Höegh LNG raised $206 million in new equity in a private placement and exercised option for delivery of one additional new FSRU from Hyundai Heavy Industries.
"Höegh LNG has delivered another quarter of safe operations of its existing fleet of LNG carriers and regasification vessels. The first two months of 2012 have been eventful with new charter agreements, equity raising and the ordering of a third new FSRU, and the level of activity remains high," said Sveinung Støhle President and Chief Executive Officer.
About Höegh LNG
Höegh LNG is a fully integrated floating LNG services company with almost 40 years experience, offering long-term floating production, transportation, regasification and terminal solutions for the liquefied natural gas (LNG) market.
The company operates a fleet of five LNG carriers and two floating storage and regasification units (FSRUs). In addition to transporting LNG, the FSRUs act as floating LNG import terminals delivering natural gas to the market. Höegh LNG has three FSRUs on order at Hyundai Heavy Industries. The company holds a significant project development portfolio for floating regasification as well as floating LNG production FLNG). Höegh LNG has established presence in Singapore, London and Florida. In total the Company employs about 70 office staff and about 350 seafarers.
In the reporting period, Höegh LNG operating profit before depreciation totaled $3.5 million, versus $3.3 million a year earlier.
In Q4, 2011 Höegh LNG secured a contract for engineering study for an FLNG solution for the Tamar gas field offshore Israel.
Besides, the Company signed $288 million debt facility agreement and a 20-year charter agreement with PT Perusahaan Gas Negara for the Medan FSRU, selected preferred bidder for a 10 year FSRU charter agreement with AB Klaipedos Nafta in Lithuania, a six-month charter agreement for LNG Libra providing shipping services to North West Shelf.
In 2011, Höegh LNG raised $206 million in new equity in a private placement and exercised option for delivery of one additional new FSRU from Hyundai Heavy Industries.
"Höegh LNG has delivered another quarter of safe operations of its existing fleet of LNG carriers and regasification vessels. The first two months of 2012 have been eventful with new charter agreements, equity raising and the ordering of a third new FSRU, and the level of activity remains high," said Sveinung Støhle President and Chief Executive Officer.
About Höegh LNG
Höegh LNG is a fully integrated floating LNG services company with almost 40 years experience, offering long-term floating production, transportation, regasification and terminal solutions for the liquefied natural gas (LNG) market.
The company operates a fleet of five LNG carriers and two floating storage and regasification units (FSRUs). In addition to transporting LNG, the FSRUs act as floating LNG import terminals delivering natural gas to the market. Höegh LNG has three FSRUs on order at Hyundai Heavy Industries. The company holds a significant project development portfolio for floating regasification as well as floating LNG production FLNG). Höegh LNG has established presence in Singapore, London and Florida. In total the Company employs about 70 office staff and about 350 seafarers.