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2014-05-12

Höegh LNG: Höegh LNG - Signs LOI/Term-sheet with EGAS of Egypt for FSRU

Höegh LNG Holdings Ltd. (HLNG or Company) is pleased to announce that the
Company has signed a Letter of Intent (LOI) with Egyptian Natural Gas Holding
Company (Egas) for the use of one of its Floating Storage and Regasification
Units (FSRUs) under construction at Hyundai Heavy Industries as an LNG import
terminal in the port of Ain Sokhna, located on the Red Sea's Gulf of Suez.
The FSRU will be moored at a jetty which has been finalized as part of Egas
scope, with topsides to be supplied by HLNG.

The LOI is for a 5 year FSRU contract expected to generate an average annual
EBIDA of around USD 40 million. EBIDA is after local Egyptian tax expected to
be paid under the contract. The FSRU is scheduled to start operations in the
third quarter of 2014 and the Company intends to use the Höegh Gallant for
this project. The LOI is subject to board approval on both sides and the
approval of the Egyptian competent authorities.

President and Chief Executive Officer Sveinung J.S. Støhle says: "We are
delighted to have reached this significant milestone in our agreement with
Egas, and look forward to completing this project that will give Egas the
fast-track infrastructure to import LNG into Egypt. This project shows again
the flexibility and versatility that Höegh LNG's FSRU solutions bring to the
LNG markets".
About Höegh LNG

Höegh LNG is a provider of floating LNG infrastructure services, offering
regasification, transportation and production services under long-term
contracts. The company operates a fleet of four floating storage and
regasification units (FSRUs) that act as floating LNG import terminals, and
four LNG transportation vessels. In addition, Höegh LNG has two new FSRUs on
order and has developed a solution for floating LNG production (FLNG). Höegh
LNG is a Bermuda based company with established presence in Oslo, Singapore,
London, Tampa and Jakarta. The company employs approximately 95 office staff
and 350 seafarers.

Contacts:

Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47
975 57 402
Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
Birgitte Hjertum, VP Strategy and Investor Relations, Telephone +47 975 57 432

This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of
Oslo Børs.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Höegh LNG via Globenewswire

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