Hoegh LNG signed a memorandum of u nderstanding (MoU) with Nakilat, exploring collaboration for Floating Storage and Regasification Unit (FSRU) business.
FSRU is the leading-edge technology for the liquefied natural gas (LNG) market. It is essentially a floating LNG import terminal, this technology has become a strategic solution for countries without LNG receiving terminal infrastructure, enabling better accessibility of clean energy. Among the significant benefits of FSRU are the ability to serve attractive markets which would otherwise not be able to utilize natural gas, pose lesser transportation risks and have the flexibility to be relocated or used as an LNG carrier.
Nakilat's Managing Director Eng. Abdullah Al-Sulaiti said, "Nakilat views this strategic alliance with Hoegh LNG, a leading owner and operator of FSRUs, as a huge stepping stone for further growth. This agreement paves the way for greater business opportunities to create substantial platforms for local players to get involved in the project, exposing them to innovative technologies and expertise that would be beneficial to their growth and the development of Qatar's energy and maritime industry. Nakilat is always looking at opportunities of diversifying solutions to deliver clean energy worldwide, supporting the rising global demand of LNG."
Mr Sveinung J.S. Stohle, President and CEO of Hoegh LNG said, "We are pleased and very proud to be partnering with Nakilat, the largest LNG carrier company and look forward to jointly contribute to expanding the global market for LNG. The alliance with Nakilat is a confirmation of Hoegh LNG's leading position in the FSRU market and offers the opportunity to further accelerate our market presence beyond the projects we undertake on a sole basis."