Höegh Takes on Study of FPSO Unit

Norwegian liquefied natural gas transport and regasification company Höegh LNG has announced today that it has entered into a confidential agreement with an unnamed company to conduct a study on an FPSO project.

Under the terms of the agreement, Höegh will undertake a cost and engineering study into the floating production, storage and offloading (FPSO) unit, with a view to expand the study should the initial one be favourable.

The initial study is expected to take between three and four months. After this, the unnamed company will make a decision as to whether they will expand the study of the project. If positive, a second study would then begin, a Front End Engineering & Design (FEED) study into the project.

"We are excited about initiating the study for an LNG FPSO to monetise the gas reserves," President and CEO of Höegh LNG , Sveinung J.S. Støhle, said today.

"The study will be based on Höegh LNG’s already developed design, and is the result of our continuous effort to promote technical and economical sound floating solutions for LNG production."