Oslo-based Hoegh LNG signed a new shipbuilding contract with Hyundai Heavy Industries for a new Floating Storage and Regasification Unit (FSRU), the company announced on Wednesday.
Hoegh said that the FSRU's delivery is expected in the fourth quarter of 2018 with a capacity of 170,000 cubic meters and regasification capacity of 1,000 million cubic feet per day.
With the addition of a further vessel with the new order, the Norwegian company's fleet will total 10 large newly-built FSRUs in operation or under construction, preserving its position as the market leader in the FSRU segment.
"First of all I am very pleased that Hoegh LNG through its newbuilding program and market position has been able to establish a contract coverage solution which is in line with our strategy of building new FSRUs," said Sveinung J. S. Stohle, president and CEO of the company.
Norway is the world's third largest natural gas exporter.
The country meets 20 percent of Europe's gas demand while 8.2 percent of the country's gas exports are made through LNG.
Norway exported 114 bcm of gas in 2015, but the new figure for 2016 is not announced yet.
By Murat Temizer
Anadolu Agency
murat.temizer@aa.com.tr