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>

<< Oct 2017 >>
MTWTFSS
25 26 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 1 2 3 4 5

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening is recognised as the premier end of year gathering for the global LNG industry.

read more >

LNG Pricing, Trading & Risk Management – 3-Day Course

This three-day training program provides a unique opportunity to learn and apply the practical skills, knowledge and tools…

read more >

LNG BUNKERING MED

The only 3 day course offering theoretical and practical training on LNG bunkering for the Mediterranean market, the syllabus is accredited…

read more >

EAGC 2017

EAGC 2017 sees a new format that combines the conference programme with targeted networking…

read more >