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Hoegh LNG offloads old LNG Carrier for $20m

Hoegh LNG offloads old LNG Carrier for $20m
Hoegh LNG has sold the carrier LNG Libra to a Chinese energy company for $20m.

The company has received 15% of the purchase price for the 1979-built, 126,400 cu m carrier, with the remainder to be paid by the end of Q1 2016. The name of the buyer was not disclosed.

Hoegh LNG president and ceo, Sveinung Støhle, commented: "LNG Libra was acquired to meet the bid conditions for a specific FSRU project as a conversion candidate, however, we succeeded in placing one of our newbuild FSRUs instead. Since Hoegh LNG's main focus is newbuild FSRUs and these have become the preferred solution among LNG importers, LNG Libra is today a non-core asset, and therefore we are very pleased with having completed this transaction in a very challenging LNG shipping market."