Hoegh LNG Inks Deal with H-Energy to Supply FSRU from 2021

Norway's Hoegh LNG Holdings, has entered a binding commitment to supply India's H-Energy with a floating storage and regasification unit (FSRU).

This will be the first FSRU to start operations in India, which has six land-based LNG import terminals.

Hoegh LNG Holdings will supply the Indian natural gas company with the FSRU in Jaigarh, south of Mumbai in Maharashtra state, from as early as Q1/2021.

The final agreement will be for 10 years with annual termination options after the fifth year. Hoegh LNG Holdings will allocate one of its available FSRUs currently trading in the LNG carrier market for the project.

The construction of H-Energy's LNG import project is near to completion. The FSRU terminal, which has been delayed on several occasions, is planned to be capable of handling four million tpa.

Energy's trading office in Dubai signed a sale and purchase agreement with Malaysia's Petronas in 2018 for the delivery of LNG to the Jaigarh terminal.