Höegh LNG charters FSRU Höegh Esperanza to CNOOC

Höegh LNG charters FSRU Höegh Esperanza to CNOOCImage courtesy of Höegh LNG

Höegh LNG signed a time charter for the floating storage and regasification unit (FSRU) Höegh Esperanza with CNOOC Gas & Power Trading and Marketing (CNOOC).

The time charter is for three years with a one-year extension option, Höegh LNG said in a statement on Monday.

Under the contract, Höegh Esperanza will be utilized in FSRU mode at the Tianjin LNG terminal in China for no less than an agreed-upon minimum period each year, with the balance of the year in LNGC mode and/or FSRU mode.

The contract will commence with immediate effect and has a rate structure that corresponds to the mode of use.

Chinese policies to encourage consumers to transition from coal to gas have caused natural gas consumption to increase sharply. This increased demand has required significant increases in LNG imports, as evidenced by China importing 12.7 million tonnes of LNG in the first quarter of 2018, or 61 percent more than in the same period of 2017.

To enable further growth in Chinese LNG imports in line with these policies, additional LNG import facilities need to be developed, including FSRUs, Höegh LNG notes.

Höegh Esperanza was delivered from Hyundai Heavy Industries in South Korea on April 5, 2018. This FSRU has a storage capacity of 170 000-cbm of LNG and a maximum regasification rate of 750 million standard cubic feet per day.

It is equipped with a GTT Mark III membrane containment system and dual-fuel diesel-electric (DFDE) propulsion.

Share this article

Follow LNG World News

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 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 1

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

LNG Pricing, Trading & Hedging: 3-Day Training Course – London / Nov 2019

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

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >