The floating storage and regasification unit (FSRU) ‘Höegh Giant’ commenced its time charter contract with Spanish energy company Gas Natural Fenosa, on 7 February, the Norwegian company Höegh LNG announced.
As informed, 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.
Under the Gas Natural Fenosa contract, the ‘Höegh Giant’ will transit the Panama Canal destined for Sabine Pass in the United States, where it will load its first cargo.
“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,” the company added.
The FSRU was delivered from South Korea’a Hyundai Heavy Industries in April 2017, and is expected to start operations under a 20-year contract with Quantum Power in Ghana in mid-2018.
