Höegh LNG Holdings sold the LNG carrier LNG Libra to a Chinese energy company for USD 20 million

OSLO, 20-7-2015 — /EuropaWire/ — Höegh LNG Holdings Ltd. (“Höegh LNG” or the “Company”) is pleased to announce that the Company has sold the LNG carrier LNG Libra (built 1979) to a Chinese energy company for around USD 20 million. The Company has received 15% of the purchase price and will receive the remaining 85% by the end of the first quarter 2016, after the vessel has completed her current charter with Gas Natural.

 
Höegh LNG’s President and Chief Executive Officer, Sveinung J. S. Støhle, said in a comment: “LNG Libra was acquired to meet the bid conditions for a specific FSRU project as a conversion candidate, however, we succeeded in placing one of our newbuild FSRUs instead. Since HLNG’s main focus is newbuild FSRUs and these have become the preferred solution among LNG importers, LNG Libra is today a non-core asset, and therefore we are very pleased with having completed this transaction in a very challenging LNG shipping market.”

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). The Company has developed low-cost solutions for floating liquefaction terminals (FLNG) 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 its growth plans on the FSRU and the FLNG 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 Oslo, Singapore, London, Miami, Jakarta, Klaipeda and Cairo. The company employs approximately 95 office staff and 500 seafarers

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402

Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Birgitte Hjertum, VP Strategy and Investor Relations, Telephone +47 975 57 432

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs