Oslo-listed floating LNG import terminals owner and operator Höegh LNG Holdings has reported that that its Floating Storage and Regasification Unit (FSRU) Höegh Gallant has started commercial operations in Egypt.
After completing all performance and commissioning tests on April 29, 2015, Höegh Gallant commenced its five-year employment under Egas.
This FSRU Time Charter Party is expected to generate an average annual EBITDA of around USD 40 million.
“We are very proud to have commenced commercial operations on our third FSRU in the last six months, which shows the strength and depth of our technical and operational expertise,” Sveinung J.S. Støhle, President and CEO of HLNG, said.
”In addition, our project with Egas is a prime example of the speed and flexibility an FSRU solution offers for importing LNG; the contract was signed only five months before commercial operations commenced.”