Höegh LNG Holdings confirms that the FSRU ‘Independence’ is being sold to the Baltic state of Lithuania
Höegh LNG Holdings, the owner of 10 floating storage and regasification units (FSRUs) and two conventional carriers, has agreed to grant a purchase option to Lithuania to buy the FSRU “Independence”.
The FSRU has been in operation at the port of Klaipeda since October 2014.
It was expected to be purchased by the Lithuanians from Höegh LNG and has been chartered since being deployed for around $68 million per annum.
The shipping company said that the charterer of the “Independence”, the Lithuanian, energy storage company Klaipėdos Nafta, had notified Höegh that it would like to exercise and option to acquire the FSRU.
“The transfer of ownership is expected to occur in December 2024,” said Höegh.
“Until then, the existing FSRU contract between a subsidiary of Höegh LNG and Klaipėdos Nafta continues unchanged,” it added.
The Klaipėda LNG terminal is still the main source of gas supply to Lithuania which is building up its already well developed gas transmission infrastructure.
Latvia storage
Klaipėda Nafta is expanding its gas supplies and has gas transmission projects with European Union neighbours, helping Latvia to boost its gas storage volumes.
Höegh LNG Holdings in September 2022 finalised the acquisition Höegh LNG Partners, the affiliate company with five ships and listed on the New York Stock Exchange.
The company's two conventional carriers, each with 147,200 cubic metres of capacity, are the “Arctic Lady” chartered to TotalEnergies and the “Arctic Princess”, chartered to Norway’s Equinor.
Both vessels are mostly on shuttle duty delivering cargoes from the Equinor-operated Hammerfest LNG export plant.
Höegh LNG Holdings revealed the initial merger plan in December 2021 and went on to acquire all outstanding common units not already owned by Höegh LNG Holdings in exchange for $9.25 in cash per common unit.
Equinor profits rise as natural gas sales offset LNG shutdown but weaker North wind hits renewables
Equinor, the Norwegian oil and natural gas company and operator of the currently closed Hammerfest LNG export plant, reported second-quarter net income of $1.94 billion after a previous loss, helped by higher price and progress in the projects portfolio.
