Höegh LNG posts interim results for the quarter ended 31 December 2012

Höegh LNG posts interim results for the quarter ended 31 December 2012: - Total income USD 37.6 million, up 25 % from 30.0 million in the fourth quarter 2011
- Operating profit before depreciation USD 18.2 million, up from USD 3.5 million in the fourth quarter 2011
- Profit before tax USD 11.3 million, up from a loss of 8.5 million in the fourth quarter 2011
- Sold UK-subsidiary Port Meridian Energy Ltd. for USD 20 million
- Proceeds from the NOK 750 million (USD 130.3 million) bond issue received
- Signed USD 250 million senior secured corporate credit facility for the financing of the Lithuania FSRU
President and Chief Executive Officer Sveinung J.S. Støhle said: "We are pleased to report an improved financial result in the fourth quarter of 2012. Our FSRU projects are proceeding in accordance with our plans and are on budget. Planned increases in liquefaction capacity, notably in Australia and North America, will lead to increased demand for our services and the outlook is good."
Höegh LNG is a provider of floating LNG infrastructure services, offering regasification, transportation and production services under long-term contracts. The company operates a fleet of six LNG transportation vessels and two floating storage and regasification units (FSRUs). In addition, Höegh LNG has four new FSRUs on order and has developed a solution for floating LNG production (FLNG). Höegh LNG is a Bermuda based company with established presence in Oslo, Singapore, London and Tampa. The Company employs about 80 office staff and about 350 sea farers.
Source: Höegh LNG