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Hoegh LNG Announces Interim Results for the Quarter Ended 30 September 2020

Source: www.gulfoilandgas.com 11/19/2020, Location: Asia

Hoegh LNG Holdings Ltd. reports its financial results for the quarter ended 30 September 2020.

Highlights for the third quarter of 2020:
- EBITDA of USD 53 million
- Net loss of USD 2.6 million
- Stable operations despite challenging circumstances created by Covid-19
- Zero LTIs and 99.9% technical availability year to date

Subsequent events:
- Hoegh LNG shortlisted for First Gen Corporation’s FSRU terminal in the Philippines
- AIE signed a lease for up to 25 years with NSW Ports for the Port Kembla Gas Terminal
- Tap issue in HLNG 04 and partial buyback of HLNG 03

The President and CEO of Hoegh LNG Sveinung J.S. Stohle comments: “I am pleased to report that Höegh LNG delivers a quarter with stable operations, as shown by a technical availability of close to 100% and zero LTIs despite the challenging circumstances created by the Covid-19 pandemic. The business development activity level was high in the quarter, and important progress was made both on projects in the existing pipeline, but also on new potential projects.”

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