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Hoegh LNG and Prosafe Production team up for the LNG FPSO segment |
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Wednesday, 17 February 2010 |
 Höegh LNG and Prosafe Production have today executed an 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."
Prosafe Production is a leading owner and operator of Floating
Production, Storage and Offloading vessels (FPSOs). Prosafe Production
has 25 years of operational experience from several of the world's
largest oil and gas provinces. The company has a good operational uptime
track record and possesses a range of proprietary FPSO-related
technologies. Prosafe Production operates globally and employs
approximately 1,000 employees from more than 40 countries. Headquartered
in Limassol, Cyprus, Prosafe Production is listed on the Oslo Stock
Exchange with ticker code PROD.
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 five LNG carriers including one innovative Shuttle and
Re-gasification Vessel (SRV) and has one SRV on order for delivery this
year. In addition to transporting the LNG, these vessels will act as
floating terminals while delivering the natural gas to the market. Höegh
LNG's strategy is to add value to its customers by broadening its
service scope to include solutions for floating production,
re-gasification terminals and delivery of natural gas. The company is
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.
Source: Hoegh LNG
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