Page 39: of Maritime Reporter Magazine (May 2017)

Finally, we always have at least one FSRU on order without a contract.

Always. This is the business model that’s been successful for us (and) we’re one of a very few companies placing orders these days.

tion, and that was our latest contract signing. FS- ing the Ivory Coast. We see four to ? ve contract

RUs have grown from zero to 22 worldwide in awards a year for the next four to ? ve years. People short order. It’s still a low number but a market are really starting to appreciate how fast we can do growing quickly. There were six (? oating LNG) a project.

contracts signed last year alone. There is no risk

So what’s next for Hoegh?

of overcapacity due to the $300 million to $400

Well, 2016 saw new contracts plus equity raising million price tag. in New York and ? nancing in Oslo. We need both

Where’s LNG demand coming from now? the New York Stock Exchange and Oslo Stock Ex-

Last year was the ? rst year of strong demand change to ? nance our projects. We always have growth since 2013, although in larger markets the equity portion ($100 million) in the bank when demand has been ? at. Demand in 2016 increased we’re ordering a new FSRU. Right now, we have 17 million tons, or 7.5 percent compared to 2015, nine long-term charters. Our 2016 revenues were mostly from China, India and Egypt. In those types $220 million, and we expect that to double in 2020. of markets, for an FSRU, 1 million tons a year is We could borrow more, but we do not want have to suf? cient demand. We can deliver anything from 1 have a lot of debt on the balance sheet. Finally, we

MMt to 6 MMt on our FSRU units. The customer always have at least one FSRU on order without a can increase capacity as they ? t. contract. Always. This is the business model that’s

Sveinung JS Støhle

What of FSRU demand?

been successful for us (and) we’re one of a very

President & CEO

There are several tenders outstanding, includ- few companies placing orders these days.

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