LNG

Hoegh LNG, the Norwegian LNG carrier fleet operator and floating import terminal project developer, reported stable third-quarter profits as one of its vessels resumed a floating import role at the port of Tianjin in northeast China, while the company was also in line for at least seven other ventures in Australia, the Indian Subcontinent and the Philippines.

Höegh LNG, the Norwegian project company and fleet owner, said the market for floating LNG import solutions was still solid and it was progressing with ventures in Latin America, the Mediterranean region and Australia as it reported first-quarter gross income of $59.6 million and a net loss of $1M.

Höegh LNG, the Norwegian project company and fleet owner, said it was business as usual on the high seas, at import terminals for deliveries and production plants for liftings despite the challenges.

Höegh LNG, the Norwegian project company and fleet owner, said that coronavirus outbreak in China has not had any direct effect on the company’s revenues nor operations, including its floating storage and regasification unit deployed at Tianjin port in northeast China to supply Beijing.

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 fleet owner and floating import project developer, reported rising profits as it advanced with projects to supply two Australian states with natural gas, while focusing on China and listing more than a dozen other countries likely to deploy floating storage and regasification units as terminals.

Dec 3 (LNGJ) - Hoegh LNG Holdings named Havard Furu as its new Chief Financial Officer, effective from March 2019. The interim CFO, Steffen Foreid, will step down from March while continuing his role as Chief Executive and CFO of the US unit, Hoegh LNG Partners. New CFO Furu occupied the same role at law firm Wikborg Rein. Before that he was CFO in Western Bulk in the period from 2009 to 2017 and was formerly employed by BW Gas as Assistant Director Strategy and Finance. “We are very pleased to welcome Havard to the Hoegh LNG team, as he brings with him very broad financial experience covering all relevant segments of the CFO role,” said Sveinung J.S. Stohle, President and CEO of Hoegh LNG.

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.

Egypt is winding down its floating storage and regasification unit contracts for LNG imports as the Arab nation’s natural gas crisis has eased with the discovery and development of new offshore gas fields in the East Mediterranean and the Nile Delta.

Stolt-Nielsen Ltd, the Norwegian-listed shipping and storage group, said it had joined with Norwegian peer companies Golar and Hoegh in a combined investment commitment of $182 million in a project in the small-scale market called Avenir LNG.