Hoegh, Prosafe Cooperate in LNG FPSO Segment

Höegh LNG and Prosafe Production have executed a MOU for the long term cooperation within the LNG FPSO segment. The cooperation will use as its basis the FEED work already developed by Höegh LNG, and for each specific project Höegh LNG will be responsible for design, project execution, completion, operation and funding, whilst Prosafe Production will, in cooperation with HLNG, be responsible for the operation and maintenance of the LNG FPSO's, and assisting Höegh LNG during project execution and completion.

Says Sveinung J. Støhle, President & CEO of Höegh LNG, "This is a very important milestone for the successful development of our first LNG FPSO project, the combined forces of Höegh LNG's cryogenic and maritime LNG experience, coupled with Prosafe Production's significant experience from the development, operation and maintenance of its fleet of oil FPSO's being one of the top 3 companies in the market, will give our LNG FPSO project an added value which we believe will greatly benefit our project and ultimately our customers."

Says Bjørn E. Henriksen, President & CEO of Prosafe Production, "We acknowledge Höegh LNG's unique position with respect to becoming a leading LNG FPSO provider, based on their mature technical solution, strong commitment and outstanding qualifications. Prosafe Production is very pleased to join forces with Höegh LNG within the FLNG segment, and considers the agreement to be of significant strategic value in positioning the company in a very interesting emerging market."
 

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