LNG

Feb 3 (LNGJ) - Hoegh LNG of Norway said it exercised an option for a new Floating Storage and Regasification unit to be built at Hyundai Heavy Industries in South Korea following a successful private placement of shares. The new FSRU will be delivered in the second quarter of 2014, "and its specifications will be adapted to comply with relevant project requirements," Hoegh said. The company, listed on the Oslo stock exchange, earlier raised $200 million in a sale of shares to preferred investors. Hoegh LNG's President and Chief Executive, Sveinung Stohle, said: "With our two FSRUs on order allocated to specific projects in Indonesia and Lithuania, the company continues focusing its growth plans at the floating regasification market, and is currently participating in several tender processes for additional FSRU projects. We have therefore decided to place an order for a third FSRU to be built at Hyundai.Our strategy to expand in the floating regasification market worldwide remains firm and we believe in strong continued growth in this segment."