Höegh LNG Holdings Ltd. announces that Höegh Esperanza has arrived at the Tianjin LNG terminal in China and has started commissioning for FSRU operations, the company said in its press release. Höegh Esperanza is currently serving a three-plus-one year FSRU/LNGC time charter with CNOOC Gas & Power Trading and Marketing Ltd. (“CNOOC”). Under the contract, Höegh Esperanza will be utilised in FSRU mode for a minimum period each year, with the balance of the year in LNG carrier mode and/or FSRU mode. The rate structure corresponds to the mode of use, with an anticipated annualised EBITDA contribution when in FSRU mode of approximately USD 33 million.
The FSRU Höegh Esperanza was delivered from Hyundai Heavy Industries in April 2018 and entered the contract with CNOOC in June 2018. This high-specification FSRU has both open and closed loop regasification capability, an import capacity of around 6 million tonnes of LNG per year and storage capacity of 170,000 cubic meters of LNG. It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric propulsion, providing it with full LNGC trading capabilities.
About Höegh LNG:
Höegh LNG operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions. Its strategy is to develop the business through an extended service offering, with large-scale FSRUs as the main product, and focus on establishing long-term contracts with attractive risk-adjusted returns involving credible counterparts. The company is publicly listed on the Oslo stock exchange under the ticker HLNG, and owns approximately 46% of Höegh LNG Partners LP. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, South Korea, Indonesia, Lithuania, Egypt, Colombia and Turkey. The company employs approximately 125 office staff and 525 seafarers.