Looking for a specific product?

Make a search for products & suppliers, articles & news.

Höegh to build LNG terminal in Lithuania

Höegh LNG has entered into a ten year time charter for a floating LNG storage and regasification unit to be used as an LNG import terminal in Lithuania. 

The agreement is subject to the approval of the shareholders of AB Klaipedos Nafta. The Lithuanian state owns 70.63% of Klaipedos Nafta's shares.

Höegh LNG intends to use the second of the three new regasification vessels being built at Hyundai Heavy Industries Ltd. in South Korea for this agreement, which will commence in the second half of 2014.  The time charter is expected to give an EBITDA contribution of about USD 50 million per year.

Höegh LNG's President and Chief Executive Officer, Sveinung Støhle, said in a comment:

"We are delighted to have established a long-term relationship with Klaipedos Nafta and we look forward to operating the floating LNG regasification terminal in the Port of Klaipeda."

Höegh LNG is a fully integrated floating LNG services company with almost 40 years experience, offering long-term floating production, transportation, regasification and terminal solutions for the liquefied natural gas (LNG) market. The company operates a fleet of five LNG carriers and two floating storage and regasification units (FSRUs). 

Headquartered in Oslo, Norway, Höegh LNG has established presence in Singapore, London and Florida. In total the Company employs about 70 office staff and about 350 seamen.

Associated companies:


Related news

Latest news

Over 45,000 businesses risk EU energy fines for non-compliance

The previous compliance date of 5th December 2015,

“An Incredibly reliable net cleaning system”

Our predator nets are prone to fouling with scallops and mussels,

“An Incredibly reliable net cleaning system”

Good knowledge enables the customer to get the most out of the product. 

DNV GL initiates energy storage standard for Australia

DNV GL will lead the project and prepare a draft proposal for the standard,

Kvale acts for foreign ship owners in a direct action case

The case is against a Norwegian P&I underwriter and the alleged tortfeasor following a collision in the Singapore strait. Recently, the Supreme Court rendered a verdict on the issue of whether Norwegian courts hav...

Kvale recognized by IAM Patent 1000 2018

Kvale's IP-team receives great review from IAM Patent 1000 "The world's leading patent professionals 2018". 

Positive winds at the SeaWork International trade fair

- This is the place to be,

DNV GL and Brodosplit sign class contract for Quark polar expedition vessel

Quark has a long history of civilian polar exploration.

Elkem sustainability magazine 2017 and GRI report for 2017 is ready

Corporate social responsibility is one of the building...