Höegh LNG has entered into a time charter with China’s CNOOC for floating storage and regasification unit (FSRU) Höegh Esperanza.
The charter is for three years and includes a one-year extension option and will see the vessel utilised in FSRU mode at the Tianjin LNG terminal
The contract commences immediately, and includes a rate structure corresponding to the mode of use.
Sveinung J.S. Støhle, CEO of Höegh LNG, commented: “We are proud to sign this strategically important contract with CNOOC, the largest of the Chinese LNG companies by volume. Given the short lead time, deployment flexibility and clear cost advantages, FSRUs are today the preferred solution for imports of LNG. Höegh LNG is the only FSRU operator with operating experience in China, and we see the potential for Höegh LNG to provide additional FSRUs to this large and rapidly growing LNG market. Höegh Esperanza will start generate revenues under this contract immediately, and Höegh LNG’s delivered fleet is with this fully employed.”