Höegh Gallant Dropdown Wrapped Up

Norwegian owner and operator of LNG floating terminals Höegh LNG Holdings has  closed the previously announced transfer of a floating storage and regasification unit – the FSRU Höegh Gallant – to its spin-off Höegh LNG Partners.

Back in August, Höegh LNG Holdings agreed to to sell the entity that owns the FSRU Höegh Gallant to Höegh LNG Partners for a purchase price of USD 370 million.

Höegh Gallant is operating under a charter with the government-owned Egyptian Natural Gas Holding Company (EGAS) that expires in April 2020.

Additionally, Höegh LNG Partners has the right to cause Höegh LNG Holdings to charter the vessel from the expiry of the EGAS charter until July 2025 at a rate equal to 90% of the rate payable pursuant to the current charter.

Höegh LNG and Höegh LNG Partners are currently waiting for the consent of the charterer as to the proposed drop down of the FSRU Independence.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >