Höegh LNG announced that the FSRU Höegh Giant commenced its time charter contract with Gas Natural SDG, SA (Gas Natural Fenosa).
As previously announced, the initial term of the contract is three years, and it includes the option for Gas Natural Fenosa to utilize the unit as an FSRU at a pre-defined day rate and for a pre-defined term.
Until FSRU employment is established, the unit will trade in Gas Natural Fenosa’s fleet, earning a LNG carrier spot-market-linked day rate. The Höegh Giant will transit the Panama Canal destined for Sabine Pass in the United States, where it will load its first cargo under the Gas Natural Fenosa contract, reflecting the flexibility and full trading capabilities of Höegh LNG’s premier FSRU fleet.
For the additional 6 FSRUs and 2 LNGCs in the operating fleet, Höegh LNG is pleased to confirm that all units continue to operate in accordance with their long term contracts.