GDF Suez Charters China’s First Floating Storage and Regas Unit

gdf suez cape ann Höegh LNG
Image: Höegh LNG

In October 2011, GDF SUEZ and CNOOC signed a cooperation agreement to work on a China-based LNG Floating Storage Regasification Unit project.  The basis of this agreement was a plan hatched a year earlier by which GDF SUEZ would sell CNOOC about 2.6 million tons of LNG starting in 2013 for a 4-year period.

Today, a charter agreement was signed by GDF Suez for Höegh LNG’s shuttle and regasification vessel, GDF SUEZ Cape Ann.  This vessel will be permanently moored and used as China’s first floating LNG storage and regasification unit for a period of up to 5 years.   Vessel commissioning and operational startup is expected in October 2013 and Höegh LNG will remain as the vessel operator.

The vessel will serve the Tianjin project under a sub-charter between GDF SUEZ and China National Offshore Oil Corporation Gas & Power Ltd (CNOOC).

Höegh LNG President and Chief Executive Officer Sveinung J.S. Støhle commented on the charter:
“Höegh LNG is very pleased to have supported GDF Suez with the flexibility of sub-chartering the vessel to CNOOC for the use as an FSRU, and at the same time establish an important presence in a rapidly growing Chinese market.”