Höegh LNG Holdings Ltd. recently announced that it has signed a letter of intent for one firm and three optional floating, storage and regasification units (FSRUs) at Samsung Heavy Industries (SHI) in South Korea.

The 170,000-cm FSRUs have a regasification capacity of 750 million square feet per day and full trading capabilities, according to Höegh LNG. The vessels have scheduled delivery dates of two units in 2019 and two units in 2020. Complete shipbuilding contract for the firm vessel is expected to be signed by mid-January 2017, the company noted.

“With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment,” Höegh LNG President and CEO Sveinung J.S. Støhle was quoted as saying.

Previously, Höegh LNG announced that it signed a FSRU contract with Quantum Power Ghana Gas Ltd for the Tema LNG import terminal located close to Accra in Ghana. The contract is for a period of 20 years with a five-year extension option for charterer and is expected to generate an average annual EBITDA of around $36 million, according to Höegh LNG.

—Bryan Sims