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Höegh LNG time charters FSRU to US LNG exporter

Norway’s Höegh LNG Holdings Ltd has entered into an interim time charter for the floating storage regasification unit Höegh Galleon with Houston-based Cheniere Marketing International

The time charter commences in September 2019 after the LNG carrier is delivered from South Korea’s Samsung Heavy Industries Co.

According to Höegh LNG, the terms of the time charter ensure Höegh Galleon’s availability to serve the AIE project in Port Kembla, Australia, where Höegh LNG is the FSRU provider on a back-to-back basis. AIE recently announced a contract to supply gas to its foundation customer from 1 January 2021.

Under the contract with Cheniere, Höegh Galleon will earn a fixed daily charter rate. The vessel has an overall length of 297 m, beam of 43 m and capacity of 170,000 m3.

Höegh LNG president and chief executive Sveinung Støhle said, “This charter party will cover the period from delivery of Höegh Galleon until its planned start-up in Port Kembla. Combined with a finalised AIE contract and the project’s FID, Höegh Galleon will have long-term contract coverage in line with HLNG’s stated strategy. Finally, from commencement of the Cheniere contract in September, Höegh LNG’s fleet will be fully employed”.

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