China Bank Supports Hoegh LNG for New FRSU

Laxman Pai
Wednesday, August 28, 2019

Hoegh LNG on its first ever sale and leaseback deal with China Construction Bank Financial Leasing (CCBFL) for its tenth Floating Storage Regasification Unit (FSRU), the Hoegh Galleon, which was delivered yesterday (August 27) and has been taken back on charter by Hoegh LNG for twelve years.

Following the completion of the transaction, Hoegh LNG is now fully funded with both equity and debt for its current newbuilding program, which will be completed with the delivery of Hoegh Galleon in August 2019.

The Hoegh Galleon has been employed on an 18-months interim LNGC time charter with Cheniere before its intended long-term charter with AIE in Australia, according to Watson Farley & Williams, which was the advisor for the deal.

Hoegh LNG, the only FSRU operator with operations in China via its contract with energy giant CNOOC, is also to set up a representative office in Shanghai as part of its expansion plans in that country.

Oslo-based Höegh LNG is a leading worldwide owner and operator of floating LNG import terminals and FSRUs, and one of the most experienced global operators of LNG Carriers. It is comprised of Höegh LNG Holdings and Höegh LNG Partners.

The WFW London team advising Hoegh LNG was led by Partner and Global Maritime Sector Head Lindsey Keeble, supported by Senior Associate Kate Silverstein and Associate Parit Patani.

Lindsey said: “We’re delighted to have advised long-standing client Hoegh LNG once again on an important FSRU transaction, especially one that marks the beginning of an important relationship with China. That they chose WFW to do so not only emphasizes our standing as the world’s leading maritime finance legal practice, but also our expertise in the critical and fast expanding LNG and offshore sectors in particular”.

Categories: Shipbuilding LNG FRSU Storage Regasification

Related Stories

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

Woodside Inks Long-Term LNG Supply Deal with China Resources

Woodside Inks Long-Term LNG Supply Deal with China Resources

Argentina YPF to Shed Offshore Exploration Projects

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

MODEC and Samsung Team Up to Install Carbon Capture Tech on FPSO

Tokyo Gas Enters LNG Market in Philippines

Tokyo Gas Enters LNG Market in Philippines

ADNOC Secures LNG Supply Deal with India's BPCL

ADNOC Secures LNG Supply Deal with India's BPCL

EnQuest to Acquire Harbour Energy's Vietnamese Assets

EnQuest to Acquire Harbour Energy's Vietnamese Assets

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Europe's Gas Uncertainty Help Drive Asian LNG Spot Prices Higher

Current News

Shell-Reliance-ONGC JV Complete India’s First Offshore Decom Project

The Future of Long-Idle Drillships: Cold-Stacked or Dead-Stacked?

TMC Books Compressors Orders for FPSO and LNG Vessels

MODEC, Sumitomo Partner Up for Delivery of Gato do Mato FPSO

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

photo

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com