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HLNG 01.10.2018 kl 15:30 994


HLNG: Höegh LNG : Höegh LNG Holdings Ltd. invests with Stolt-Nielsen Ltd. and Golar LNG Ltd. to create small-scale LNG market leader

15:00
Hamilton, Bermuda,1 October 2018 - Höegh LNG Holdings Ltd. (Höegh LNG)
announced today an investment of USD 24.75 million in Avenir LNG Ltd. (Avenir
LNG).The investment is part of a combined commitment of up to USD 182 million
from Stolt-Nielsen Ltd. (Stolt-Nielsen), Golar LNG Ltd. (Golar LNG) and
Höegh LNG for the pursuit of opportunities in small-scale LNG, including the
delivery of LNG to areas of stranded demand, the development of LNG bunkering
services and supply to the transportation sector.

Avenir LNG intends to utilize the best-in-class capabilities of its anchor
investors to build a global presence as the leading provider of small-scale LNG,
and it will be among the first movers in this market with a fleet of small-scale
LNG carriers and terminals. The market for small-scale LNG is rapidly expanding,
with great potential to be realized within off-grid power, transportation and
bunkering markets because of high-margin oil-to-gas switching, policy changes
and environmental benefits of consuming LNG relative to alternative fossil
fuels. The forthcoming IMO 2020 regulations is one of many driving factors for
increased small-scale LNG consumption, and Avenir LNG plans to introduce safe
and efficient ship-to-ship bunkering services at key strategic ports to meet and
develop demand for LNG as a marine fuel.

Avenir LNG was originally formed by Stolt-Nielsen in 2017 to provide LNG to
markets lacking access to LNG pipelines. Stolt-Nielsen will consolidate all its
LNG activities into Avenir, including four small-scale LNG carriers currently
under construction at Keppel Singmarine in Nantong, China, and the LNG terminal
and distribution facility under development in the Italian port of Oristano,
Sardinia. Avenir LNG plans to source and ship LNG to the terminal using small
LNG carriers, and distribute the LNG in trucks and through regasification into
the local gas grid.

Höegh LNG and Golar LNG will each hold an initial share of 25% of Avenir LNG,
while Stolt-Nielsen will remain the largest shareholder with ownership of 50%.
Subsequent to the initial capital raise, Avenir LNG contemplates a public
listing at the Oslo Over-The-Counter market during 2018.

Höegh LNG President and CEO Sveinung J.S. Støhle commented: Due to the size and
location of our FSRU fleet, Höegh LNG has for some time seen small-scale LNG
services as an attractive complement to our core offering of full-scale FSRUs.
We have evaluated a range of opportunities to establish a strong competitive
position in this growing market, and to this end, we are pleased to be
partnering with Stolt-Nielsen and Golar LNG to create a market leader in Avenir
LNG. The investment provides Höegh LNG with an opportunity to enter the segment
through a venture that is at an advanced stage of development. It represents a
highly attractive opportunity for growth and has direct synergies with our core
full-scale FSRU business through the incremental LNG demand it is expected to
deliver.
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