Norway’s Hoegh LNG has firmed up its letter of intent with Hyundai Heavy Industries to build two floating storage and regasification units priced at a total of $506 million.
The firm 170,000-cbm FSRUs are due for delivery in fourth-quarter 2013 and first-quarter 2014. Hoegh has also secured options for one-plus-one additional units for 2014, followed by a further pair.
The company is hoping to raise up to 945 million Norwegian kroner ($174 million) to help fund its floating regasification expansion plans in an initial public offering scheduled for 30 June on the Oslo Bors (pictured).
Some
