Oslo: Höegh LNG has signed an FSRU contract with Octopus LNG in Chile for the Penco-Lirquén LNG import terminal to be located at Concepción Bay.
The new deal is for a 20-year period, and is planned to commence in the second quarter of 2018 subject to Octopus completing financing and obtaining necessary environmental approvals.
Sveinung J. S. Støhle, president and ceo of Höegh LNG commented: “We are delighted to have been awarded the contract with Octopus for their new LNG import terminal in Chile, and look forward to completing the project together with our client. Our modern FSRU solutions offer our client the most cost efficient way of importing LNG to meet an increasing demand for natural gas used in power production in Chile. With this contract we have full contract coverage for our FSRU fleet and are therefore contemplating the next step in our FSRU expansion program.”
The deal will utilise an FSRU already on order and is expected to generate $36m annually.
