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.
French designer of LNG storage GTT gains Lloyd's Register approval for product for easier FLNG transfers
Gaztransport and Technigaz (GTT), the French designer of LNG storage tanks for ships and for onshore, has been granted approval from UK maritime classification society Lloyds Register for its digital prediction technology for regasification operations involving floating LNG facilities.
Norway’s Connect LNG and its jettyless solutions for marine loading rebrands as ECONNECT Energy
Connect LNG, the Norwegian technology provider of jettyless solutions for marine loading and bunkering, has re-branded itself as ECONNECT Energy to reflect a broader focus on clean energy transfer solutions.
“The new focus aims to make clean energy accessible globally to realise solutions for not just LNG, but also renewable fuels and the carbon-capture value chain,” said the Oslo-based company.
Connect LNG was founded in 2012 based on the belief that clean energy should be accessible and affordable.
The Connect LNG floating jettyless system, the IQuay (previously named the UTS), can also be used for carbon capture and storage (CCS) and renewable fuels such as ammonia, bio LNG and hydrogen.
The first the IQuay called “La Santa Maria” was used in Norway in February 2019 for an operation involving Norwegian state-backed energy company Equinor and Naturgy Group, the Spanish utility and participant in the LNG market with global supplies, also now including US and Russian volumes.
The successful operation took place offshore Langesund in Norway, an area renowned for harsh weather during winter time.
The new ECONNECT company will leverage its experience in the LNG energy market to enable a seamless transition into new, carbon-free area.
It explained that with a focus now switched to include the potential of renewable energies, a new name was required to align with the company’s ambitions.
“A passion for change and a desire to challenge ‘common practice’ are in the company’s DNA,” said ECONNECT Chief Executive Morten Christophersen.
“When we designed our transfer solution we always wanted to apply it to more than just LNG,” explained Christophersen.
“With our current focus and success in the LNG market coupled with experience with CCS and renewables, we are well-positioned to broaden our scope to include new, carbon-free energy solutions,” stated the CEO.
Trelleborg of Sweden and Synertec of Australia form partnership for LNG custody transfer
Trelleborg of Sweden has announced a partnership with leading Australian engineering consultancy Synertec to meet growing demand for more accurate and efficient LNG custody transfer measurements.
Gas Natural Fenosa and Norwegian firm Connect LNG complete new jetty-free cargo transfer
Spanish liquefied natural gas market participant Gas Natural Fenosa and Norwegian fuel-transfer technology company Connect LNG said they completed a fuel operation in Norway using the small-scale carrier “Coral Energy” and a new system that removes the need for jetty structures.
