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FSRU Höegh Esperanza chartered for 3 years to Tianjin terminal

June 4, 2018

FSRU Höegh Esperanza chartered for 3 years to Tianjin terminal

Höegh LNG today signed a time charter for the FSRU Höegh Esperanza with CNOOC. The time charter is for three years with a one-year extension option. Under the contract, Höegh Esperanza will be utilised in FSRU mode at the Tianjin LNG terminal in China for no less than an agreed-upon minimum period each year, with the balance of the year in LNGC mode and/or FSRU mode. The contract will commence with immediate effect.

Chinese policies to encourage consumers to transition from coal to gas have caused natural gas consumption to increase sharply. This increased demand has required significant increases in LNG imports, as evidenced by China importing 12.7 MT of LNG in the first quarter of 2018, or 61% more than in the same period of 2017. To enable further growth in Chinese LNG imports in line with these policies, additional LNG import facilities need to be developed, including FSRUs. 

Höegh Esperanza was delivered from Hyundai Heavy Industries in South Korea on 5 April 2018. This FSRU has a storage capacity of 170 000cbm and a maximum regasification rate of 750 MMscf/d. 

Edited from Höegh LNG press release.