Hoegh LNG has been at the forefront of floating regasification for a decade, having helped open new markets to LNG on three continents. With an existing fleet of eight floating storage and regasification units (FSRUs), a ninth due for delivery before the end of the year and a tenth scheduled to be delivered in May 2019, the Oslo-based company accounts for a third of the FSRU market.
But the past year has been challenging for the floating regas sector. A handful of FSRU-based ventures have fallen through, while the dearth of final investment decisions (FIDs) on new supply projects also affected Hoegh LNG and its peers.
LNG Business Review caught up with the president and CEO of Hoegh LNG, Sveinung Stohle, at Gastech in Barcelona last month to discuss the LNG industry’s current state, his company’s plans for the coming decade, the crucial role China and other emerging Asian countries could play in the expansion of the FSRU business, and the merits of small-scale LNG.
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