Höegh LNG has signed an agreement with GDF SUEZ which will form the basis for facilitating their use of the GDF SUEZ Cape Ann as the first floating storage and regasification unit in China. The vessel will serve the Tianjin project under a sub-charter between GDF SUEZ and China National Offshore Oil Corporation Gas & [...]
Höegh LNG of Norway and STX Pan Ocean (STXPO) said that they have renegotiated the initial agreement and reached a new one whereby Höegh LNG foregoes the right and obligation to take delivery of 50% of the LNG tanker STX Frontier in exchange for an option to buy 100% of the vessel. Höegh LNG announced [...]
An important milestone was reached at the keel laying of hull number 2548 at Hyundai Heavy Industries in South Korea on 27 February 2013, Höegh LNG said in statement. The floating storage and regasification unit (FSRU) being built will be used as a floating LNG import terminal in Indonesia. The term of the contract with Perusahaan [...]
MODEC announced the award of a Tower Yoke Mooring System by Höegh LNG to its subsidiary, SOFEC Inc. The Tower Yoke will provide a permanent mooring for the FSRU, 20 km offshore, south east Sumatra, in a water depth of 23 meters. The system includes a Swivel Stack assembly and riser piping to export gas [...]
Höegh LNG of Norway said its operating profit before depreciation for the third quarter of 2012 was USD 13.2 million, up 53% from USD 8.6 million in the third quarter 2011. Highlights Profit before tax USD 1.1 million, up from a loss of USD 2.0 million in the third quarter 2011 Total income USD 38.0 [...]
Höegh LNG said it entered into a firm agreement with four banks for a USD 250 million corporate facility for the financing of the FSRU to be delivered for the Klaipedos Nafta FSRU project in Lithuania. The four banks are DNB Bank ASA, Nordea Bank Norge ASA, Skandinaviska Enskilda Banken AB (publ) and Swedbank AB. [...]
Watson, Farley & Williams (WFW), an international law firm, said that it has advised Höegh LNG on the sale of its wholly owned subsidiary Port Meridian Energy Limited for US$20m to Meridian Holdings, an entity advised by West Face Capital and owned by a fund managed by West Face. Port Meridian Energy Limited has developed [...]
Höegh LNG said it has entered into an agreement to sell its wholly owned subsidiary Port Meridian Energy Limited for a consideration of USD 20 million to Meridian Holdings, an entity advised by West Face Capital Inc. and owned by a fund managed by West Face. Port Meridian Energy Limited has developed plans and received [...]
Baker Botts represented Höegh LNG of Norway in a deal between Höegh LNG and Perusahaan Gas Negara (PGN), where the two companies have signed terms for the LNG Floating Storage and Regasification Unit (FSRU) and mooring to form an offshore LNG receiving terminal offshore Labuhan Maringgai, in the Lampung province, at the south east coast [...]
PGN and Höegh LNG have today signed the amended terms for providing the FSRU and mooring for the Lampung project. The Indonesian Government in March requested from PGN to change the location of the FSRU from offshore Belawan to offshore Labuhan Maringgai, in the Lampung province, at the south east coast of Sumatra, Indonesia. Höegh [...]
