Page 38: of Maritime Reporter Magazine (May 2017)

The Norway Way

In Demand:

Hoegh LNG’s

Turkish LNG

Sveinung Støhle

The Neptune FSRU.

Photo: handout

BY WILLIAM STOICHEVSKI

Given the not-so-buoyant gas market, why is there still

Satis? ed with the recent opening of a new ? oating LNG import terminal interest in your FSRUs?

Well, you can move them to a new site if the market chang- in Turkey plus contract successes in Africa and Asia, Hoegh LNG CEO es. Not so for land-based LNG import terminals. And FS- and president, Sveinung Stoehle, cautiously lets us into his stylish Oslo

RUs can trade as LNG carriers with no conversion required.

They also take far less time to put into operation, from go- of? ces for a bit of “disclosure”. The Hoegh business model is winning ahead to completion and gas sales, or from six months to three years. They’re half the cost at $0.30/MM Btu (per out, and now six ? oating storage and regasi? cation units, or FSRUs, million British thermal units). You can lease an FSRU for are in operation with four newbuilds on the way. The terminal in Turkey the long-term, too, usually 20 years. Most importantly for some, FSRUs can spell the end for monopoly suppliers of was built in just six months: “It would be years, not months, for a land- natural gas using pipelines. based gas terminal,” Mr. Stohle asserts. That risk argument has Hoegh

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