LNG

April 7 (LNGJ) - Höegh LNG, the fleet owner and project company, has followed the lead of other firms and suspended dividend payments to shareholders because of the uncertain business environment. Höegh has also cancelled bonus schemes for executive management and onshore personnel for 2020. The cost-saving plan's implementation would additionally focus on overheads and vessel operating costs.

Hoegh LNG, the Norwegian shipping and project company, said the global market continued to grow as it was selected for three floating storage and regasification unit (FSRU) contracts and with various tenders also being processed as lower natural gas prices are helping import infrastructure demand in Asia.

Hoegh LNG, the Norwegian import terminal developer and fleet operator, said long-term outlook for the floating storage and regasification unit (FSRU) market remains solid, though it warned that ventures were complex and reliant on a host of factors as one of its ventures was cancelled and two others suffered further delays.