Höegh LNG inked a letter of intent (LOI) with Samsung Heavy Industries (SHI) in South Korea for one firm and three optional floating storage regasification units (FSRU).
The 170,000 cu m FSRUs have regasification capacity of 750 MMcf/d and full trading capabilities. The vessels have scheduled delivery dates of two units in 2019 and two units in 2020. Complete shipbuilding contract for the firm vessel is expected to be signed by mid-January 2017.
Höegh President and CEO Sveinung J.S. Støhle said: "Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU newbuilds, in line with our declared strategy. With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment."