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Höegh LNG Executes 18 Month Interim LNGC Timecharter with Cheniere

Logistic News - Published on Tue, 16 Jul 2019

Image Source: image4.owler.com
Höegh LNG Holdings Ltd anounced that an interim LNGC time charter has been entered into with Cheniere Marketing International LLP for its recently named Höegh Galleon. The time charter commences in September 2019 after the delivery of the unit, Höegh LNG’s tenth, from Samsung Heavy Industries Co Ltd. The terms of the time charter ensure the 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.

Mr Sveinung JS Støhle, President & CEO of Höegh LNG, said that "We are very pleased to further develop our relationship with Cheniere, the US’ largest LNG exporter. This charter party will cover the period from delivery of Höegh Galleon until its planned start-up in Port Kembla. Combined with a finalized 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."

Source :

Posted By : Mohan Sharma on Tue, 16 Jul 2019
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