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Höegh LNG will manage the vessel under a long-term time charter agreement with leading energy provider GDF SUEZ. On the same day, Höegh LNG took delivery of the LNG Carrier STX Frontier at Hanjin Heavy Industries and Construction Co. Ltd as Manager. Höegh LNG will charter this vessel for a three year period from 3rd quarter this year.

Says Sveinung J. Støhle, President & CEO of Höegh LNG: “The 1st of June 2010 is really a first for Höegh LNG, since we took delivery of two newbuilt vessels on this day. The two vessels are naturally very different, since one is our second SRV and the other is a standard LNG carrier, but they both underscore what we as Höegh LNG is all about: Technical innovation and the ability to add value through the services we provide to our customers.”

About GDF SUEZ Cape Ann:

Along with her sister-ship, the GDF SUEZ Neptune, the GDF SUEZ Cape Ann is equipped with her own LNG regasification system, allowing her to regasify and discharge natural gas under high pressure directly into a designated Deep Water Port, such as GDF SUEZ’s Neptune LNG Deep Water Port off the coast of Massachusetts, USA. These SRVs also give access to new markets which do not have onshore terminals at their disposal.

The innovative SRVs have both been constructed at the Samsung Heavy Industries (SHI) facility, located on Geoje Island, South Korea. They are owned jointly by Höegh LNG and MOL, and both will be managed by Höegh LNG for GDF SUEZ under long-term time charter agreements.

The GDF SUEZ Neptune and the GDF SUEZ Cape Ann vessels incorporate the reinforced GTT MKIII cargo containment system with a 145,000 cu.m capacity. They are fitted with three state-of-the-art regasification skids for a total maximum output capacity of approximately 21 million standard cu.m of natural gas per day, and are also fully capable of operating as standard LNG carriers. The vessels are equipped with Dual Fuel Diesel Electric propulsion system which makes it possible to achieve a substantial improvement in overall propulsion efficiency and reduces the amount of greenhouse gas emissions.

Both GDF SUEZ Neptune and GDF SUEZ Cape Ann have DNV Class and carry Norwegian Flag (NIS) and have received the “Green Passport” from DNV certifying the environmental considerations taken when constructing, operating and ultimately disposing of the vessels.

About STX Frontier:

Höegh LNG took delivery of the LNG Carrier “STX Frontier” at Hanjin Heavy Industries and Construction Co. Ltd as Manager. Höegh LNG will take delivery of the vessel as Charterer in 3rd quarter for a three year period plus options, and will sub-let the vessel to Repsol for the same period.

STX Pan Ocean LNG Pte. Ltd, STX Pan Ocean Co Ltd., and Höegh LNG AS entered into a Hire Agreement on 28 September 2009 for employment of the vessel. On the same date Höegh LNG singed a 33 month Time Charter with Repsol.

The 153,000 cu.m Mk III membrane vessel is constructed with dual class (KR and DNV) and will carry Singapore flag.

About Höegh LNG:

Höegh LNG is a fully integrated ship-owning company offering long-term floating production, transportation, re-gasification and terminal solutions for Liquefied Natural Gas (LNG). The company operates a fleet of seven LNG carriers including two innovative Shuttle and Re-gasification Vessels (SRVs). In addition to transporting the LNG, these vessels will act as floating terminals while delivering the natural gas to the market. The company is further developing two deepwater terminals based on SRV technology in Florida and the UK. In addition to the head office centrally located in Oslo, Höegh LNG has established presence in London (UK) and Tampa, Florida.