HAMILTON, BERMUDA: Höegh LNG Holdings Ltd. has entered into a binding commitment to supply H-Energy with a Floating Storage Re-gasification Unit (FSRU) in Jaigarh from as early as first quarter 2021, a news release said.
Jaigarh is south of Mumbai in Maharashtra state, India. The final agreement will be for 10 years with annual termination options after year five. Höegh LNG will allocate one of its available FSRUs currently trading in the LNG carrier market for the project.
President and Chief Executive Officer Sveinung J.S. Støhle says: “We are delighted to have entered into a binding commitment with H-Energy for their new LNG import terminal in Jaigarh, India. The construction of H-Energy’s LNG import project is near to completion, positioning it as a timely gateway to one of the world’s highest growing LNG markets. The terminal will be the first of what we believe could be multiple FSRU based terminals in India.”
Höegh LNG is at the leading edge of the rapid expansion of LNG that is transforming energy markets around the world.