Colombian LNG terminal operates at full capacity to support power grid as ‘El Niño’ affects hydro-electric system
The floating LNG import terminal operating company in the South American nation of Colombia said LNG deliveries reached record levels to respond to the increase in demand for gas-fired power as drought conditions caused by the “El Niño” phenomenon reduced hydro-electric supplies.
Höegh LNG Partners sees closing of merger with Höegh LNG Holdings by Sept 23 and delisting from NYSE
Höegh LNG Partners, the company with five ships and listed on the New York Stock Exchange, has notified the NYSE of the anticipated closing date of around September 23 when its merger with Höegh LNG Holdings is finalised and its shares delisted.
South American nation of Colombia studies Cartagena LNG terminal expansion to meet higher demand
Promigas, the utility company in the South American nation of Colombia, said it was studying a boost in regasification capacity at its Cartagena floating LNG import terminal on the Caribbean Coast to meet increasing demand.
Höegh LNG Partners holds AGM and names Morgan Stanley executives to board after takeover deal
Höegh LNG Partners, the US affiliate of Höegh LNG Holdings now partnered with the infrastructure unit of US investment bank Morgan Stanley, has given the bank seats on the board.
Royal Vopak broadens LNG terminal portfolio with stake in Colombian FSRU import facility
Royal Vopak, the Dutch global storage and terminals company and co-owner of the Gate liquefied natural gas import facility in Rotterdam, has purchased a stake in the floating LNG terminal in the Colombian Caribbean port of Cartagena.
Vopak said it bought 49 percent of Colombian company Sociedad Portuaria el Cayao (SPEC) in Cartagena, owner of the terminal which has been in service since 2016. The value of the transaction was not disclosed.
The Dutch company also owns 60 percent of the Mexican Gulf Coast onshore LNG import terminal at Altamira.
The Colombian facility consists of an LNG jetty, onshore infrastructure and 9.2 kilometres of gas pipeline connecting to the national gas grid.
A chartered floating storage and regasification unit (FSRU) is receiving the LNG and sending the gas to shore. The SPEC company holds long-term supply contracts with three local gas-fired power plants.
The FSRU, the 170,050 cubic metres capacity vessel “Hoegh Grace”, is on charter from Norwegian fleet owner Hoegh LNG.
The majority shareholder in the terminal company will remain the South American utility Promigas with 51 percent.
“We are very much looking forward to this partnership with Promigas and to enter into the growing Colombian LNG market,” said Eelco Hoekstra, Chairman and Chief Executive of Vopak.
“This is another growth step in our LNG portfolio and it fits very well in our ambitions to grow and diversify our service offering in LNG,” added Hoekstra.
Promigas is a private company in the natural gas sector in Latin America with 45 years of experience providing access to natural gas.
Hoegh LNG benefits from China FSRU charter and is in tenders for four other projects
Hoegh LNG, the Norwegian fleet owner, posted a rise in third-quarter net income and higher revenues from new floating storage and regasification unit (FSRU) charters, while it was in the final round of tenders for four other projects.
Hoegh LNG swings back to profit and sees countries acquiring multiple floating terminals
Hoegh LNG, the Norwegian fleet owner and floating import terminal specialist, said it was operating in a positive market and posted a 2016 profit versus a loss the previous year as accelerating LNG exports were being mirrored by an increase in the number of contract awards.
Norwegian fleet owner Hoegh LNG concentrates more on operations as new FSRUs are placed
Hoegh LNG, the Norwegian fleet owner and floating storage and regasification unit charterer, is changing its corporate structure to improve efficiency as its business moves forward with the recent placing of new FSRUs and with other projects planned.
Colombia holds ceremony to formally launch FLNG facility at Cartagena on Caribbean coast
The Latin American state of Colombia has held a ceremony on the Caribbean coast to formally launch the operations of the “Hoegh Grace” Floating Storage and Regasification Unit in Cartagena Bay.
Hoegh LNG share offering
Dec 2 (LNGJ) - Hoegh LNG Partners, the US-listed affiliate of the Norwegian fleet owner and project company, has priced a share sale of 6 million common units at a public offering price of $17.60 per unit to raise $105.6 million. The partnership intends to use the net proceeds to fund its purchase from Hoegh LNG of a majority stake in the Floating Storage and Regasification Unit, the “Hoegh Grace”. Investment banks Citigroup and Barclays are acting as the joint book-running managers of the offering in addition to the brokers DNB Markets, Fearnley Securities and Stifel. The partnership has granted the underwriters a 30-day option to purchase up to an additional 900,000 shares depending on demand.
