Hoegh LNG Partners ups cash distribution due to FSRU aquisition

FSRU Höegh Grace (Image courtesy of Höegh LNG)

Höegh LNG Partners, the Bermuda-based limited partnership formed by Norway’s Höegh LNG, raised its first quarter cash distribution to $0.43 per unit.

This represents an increase of 4.24% from the fourth quarter 2016 distribution and is related to the acquisition of 51% of FSRU Höegh Grace, Höegh LNG Partners said in a statement.

The latest move brings the total distribution increase since the company’s IPO in 2014 to 27.4% and corresponds to an annualized distribution of $1.72 per unit, it added.

The FSRU Höegh Grace has last year started operations in Columbia under a 20-year contract with Sociedad Portuaria El Cayao (SPEC). It has the capacity to transport 170,000-cbm of LNG and has a regasification capacity of 500 mmscf/d.

Höegh LNG Partners’ fleet currently consists of five floating storage and regasification units or FSRUs that operate under long-term charters with energy companies or utilities.

Share this article

Follow LNG World News

Events>

<< Dec 2017 >>
MTWTFSS
27 28 29 30 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 31

Singapore Maritime Technology Conference and Exhibition (SMTC) 2018

The 3rd Singapore Maritime Technology Conference and Exhibition (SMTC) 2018…

read more >

CWC Japan LNG & Gas Summit

The inaugural CWC Japan LNG & Gas Summit, with participation and support from METI, JERA, Tokyo Gas and IEEJ, is the dedicated platform for international suppliers…

read more >

Asia Pacific Maritime and Offshore Exhibition 2018

7 years in the making, APM is the premier shipbuilding & marine, workboat and offshore exhibition in Asia…

read more >

CWC 2nd Papua New Guinea Petroleum & Energy Summit

The 2nd CWC Papua New Guinea Petroleum and Energy Summit is held under the patronage of the Prime Minister of Papua New Guinea…

read more >