Höegh LNG Holdings Ltd. ("Höegh LNG" or the "Company") is pleased to announce that it has signed a Letter of Intent ("LOI") for one firm and three optional FSRUs at Samsung Heavy Industries (SHI) in South Korea.

The 170,000 m3 FSRUs have regasification capacity of 750 MMScf/day and full trading capabilities. The vessels have scheduled delivery dates of two units in 2019 and two units in 2020. Complete shipbuilding contract for the firm vessel is expected to be signed by mid-January 2017.

President and Chief Executive Officer Sveinung J.S. Støhle says in a comment: "Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU newbuildings, in line with our declared strategy. With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment."

About Höegh LNG

Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus growth plans on the FSRU market, with the objective of securing long-term contracts with strong counterparts at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, Indonesia, Lithuania, Egypt and Colombia. The company employs approximately 110 office staff and 500 seafarers.

About Samsung Heavy Industries

Samsung Heavy Industries has successfully completed diverse projects With the aim of securing global leadership in various sectors including shipbuilding, offshore, machinery & electric systems.
Most notably, it has achieved unbeatable leadership in the high-tech high-value shipbuilding sector by maintaining the world’s No. 1 share in the drill ship, LNG carrier and FPSO markets.