Global LNG Trade Continues to Increase

Höegh LNG Partners, a provider of floating liquid natural gas (LNG) services under long-term contracts, said that with new LNG production facilities in the US and around the world coming on stream, global LNG trade continues to increase.

This, together with competitive LNG pricing and environmental arguments, are driving interest in FSRUs world-wide, said the company which owns and operates floating storage and regasification units (FSRUs) which act as floating LNG import terminals.

"With an established platform of long-term contracts, Höegh LNG Partners is in a strong position to maintain its leadership position in the FSRU sector and fund incremental growth opportunities as they crystalize," said Steffen Føreid, Chief Executive Officer and Chief Financial Officer.

Höegh LNG reported time charter revenues of $36.1 million for the first quarter of 2019, compared to $34.9 million of time charter revenues for the first quarter of 2018.

All the vessels were on-hire for the entire first quarter of 2019, it said.