Höegh LNG signs FSRU deal for Tema LNG Project

Höegh LNG signs FSRU deal for Tema LNG Project

Höegh LNG has signed an FSRU contract with Quantum Power Ghana Gas for the Tema LNG import terminal in Ghana.

The deal is for a 20-year period with an additional five-year extension option available. Höegh LNG says the deal will generate around $36m in annual EBITDA.

Sveinung J. S. Støhle, president and CEO of Höegh LNG, commented: “We are delighted to have been awarded the contract with Quantum Power for their new LNG import terminal in Ghana, and look forward to completing the project together with our client. Our modern FSRU solutions offer our client the quickest, most cost efficient and flexible way of importing LNG. With this contract we have full contract coverage for our FSRU fleet.”

Infrastructure construction for the project is expected to start mid 2017 with delivery of the FSRU to follow six to 12 months later.

Höegh LNG said the FSRU would come from its existing fleet, including units under construction, conversion or planned newbuilding without elaborating any further.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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