It's on us. Share your news here.

America’s LNG Boom a Boon for Hoegh Says CEO

Richard Tyrrell

Posted on June 28, 2016

By Gregg Greenberg, TheStreet

Now that the U.S. is getting into the business of exporting liquefied natural gas (LNG) , the interest in Floating Storage and Regasification Units (FSRUs) is exploding, said Richard Tyrrell, CEO of Hoegh LNG Partners (HMLP) . ‘To import the commodity you need infrastructure and that’s where FSRUs come in,’ said Tyrrell. ‘Floating is better than land-based terminals because they are half the cost and time to install.’ Höegh LNG Partners, down 4.5 percent year-to-date, is the only listed FSRU pure-play, offering investors the opportunity to invest in a fleet of energy infrastructure assets operating on long-term contracts and built-in distribution growth from a contracted dropdown pipeline. FSRUs effectively function as floating LNG import terminals that are semi-permanently moored off the coast of the end market they are servicing. Höegh LNG Partners has contracts averaging 14 years remaining duration and which cover a dividend that has grown 22 percent since the IPO, with a contracted pipeline of further growth opportunities, none of which have direct commodity exposure. During the first quarter of 2016, Höegh LNG Partners achieved record LNG regas volumes.

Source: TheStreet

It's on us. Share your news here.
Submit Your News Today

Join Our
Click to Subscribe