Höegh LNG, a provider of floating storage and regasification units (FSRUs), has announced the successful settlement of disputes and pending arbitrations with the charterer of PGN FSRU Lampung.
In a recent statement, Höegh LNG confirmed that the parties involved have reached an amicable settlement, effectively resolving all disputes, claims, and counterclaims that led to the arbitration proceedings. As part of the settlement, both parties have agreed to terminate the arbitrations with immediate effect.
Despite the resolution of the disputes, the charter contract for PGN FSRU Lampung remains fully operational.
Höegh LNG is a pioneer within maritime energy infrastructure, providing countries and energy companies with rapid, flexible and cost-efficient access to global energy markets. Höegh LNG is a leading innovator, owner and operator of Floating Storage and Regasification Units (FSRUs) and LNG carriers (LNGCs).