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Höegh LNG to provide FSRU to AGL's Crib Point LNG Project

Published by , Editorial Assistant
Hydrocarbon Engineering,

Höegh LNG Holdings Ltd has announced that it has entered into a time charter party with AGL Shipping Pty Ltd, a wholly owned subsidiary of AGL Energy Ltd, for the provision of a floating storage and regasification unit (FSRU) to facilitate its proposed Gas Import Jetty project at Crib Point, Victoria, Australia that is targeting start up in 2020 – 2021.

The charter is for a period of 10 years and remains conditional on the board of directors of AGL Energy Ltd taking a final investment decision in relation to the project and receipt by the charterer of key environmental project approvals. The FSRU assigned to the project is expected to generate annual EBITDA of between US$29 million and US$31 million depending on planned technical modifications that may be specified by AGL before project start-up.

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