Hoegh LNG drops down remaining Hoegh Grace stake

Norway's Hoegh LNG Holdings is selling the rest of its holding in the Hoegh Grace FSRU to its spin-off company.

The remaining 49% of the 170,000-cbm vessel (built 2016) will go to Hoegh LNG Partners (HMLP) for $172.5m, less $86.6m in debt on the ship.

The partnership took a 51% stake in January.

CEO Sveinung Stohle said: "Funded by a well-received offering of HMLP's perpetual preferred equity earlier this autumn, the transaction demonstrates Hoegh LNG's diversified capital markets access.