PGN FSRU Lampung Commences 20-Year Contract Offshore Indonesia
The world’s 20th FSRU has commenced operation over the weekend.
The Hoegh LNG-owned PGN FSRU Lampung completed receiving its first cargo of LNG through a Ship-To-Ship (STS) transfer on Sunday, 27 July. The vessel, located offshore Indonesia, has now entered its final commissioning phase as part of it’s 20-year contract with Perusahaan Gas Negara (PGN).
Hoegh LNG notes they are considering further expansion of their fleet of FRSUs and availability exists in Korean yards to do so in 2017 and beyond. In their 1Q 2014 earnings report, Hoegh notes the demand for LNG imports around the world is on the rise with significant projects underway on the east coast of South America as well as southern Asia.
The following chart from Hoegh shows where these projects are located:
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