Norway-based floating LNG giant Höegh LNG opened its office in Shanghai as it aims to pursue additional FSRU projects.
The company noted in a brief social media statement that it already has a strong footprint in the Chinese LNG market with Esperanza operating as the only FSRU in China at the Tianjin facility through a contract with CNOOC.
The vessel is currently serving a three-plus-one year FSRU/LNG carrier time charter.
Under the contract, Höegh Esperanza will be utilized in FSRU mode for a minimum period each year, with the balance of the year in LNG carrier mode and/or FSRU mode.
The company also has financial agreements in place with China Construction Bank.
Commenting on the office opening, Höegh LNG president and CEO Sveinung Stohle, said, “We are convinced the Chinese LNG market will continue its high paced growth making it already the 2nd largest LNG importer in the world, and that FSRUs will play an important role in the need for adding new LNG import capacity in the near term, and therefore having our own resources on the ground gives us the right strategic presence to continue our growth in this market.”