Cheniere takes Höegh LNG newbuilding FSRU

Thursday, 25 July 2019
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Höegh LNG Holdings has signed a short term LNGC timecharter with Cheniere Marketing International for its newbuilding FSRU ‘Höegh Galleon’.

The timecharter commences in September, 2019 after her delivery from Samsung Heavy Industries. She will be Höegh LNG’s 10th FSRU.

The timecharter period ensures that the FSRU will be available to serve the AIE project in Port Kembla, Australia, where Höegh LNG will be the unit’s provider on a back-to-back basis, the company said.

AIE recently announced a contract to supply gas to its foundation customer from 1st January, 2021.

Under the contract terms, ‘Höegh Galleon’ will earn an undisclosed fixed daily charter rate.

Sveinung Støhle, Höegh LNG President and CEO, said: "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 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,” he said.

Elsewhere, Indian utility GAIL said it had chartered an MOL newbuilding for three years from 2021.

The company also intends to charter in more tonnage, it said in a results presentation. 

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