News In Brief: Hoegh LNG Moves Forward On FSRU For Lithuania
News: Bermuda-registered Hoegh LNG has secured commitment letters from four banks for a US$250mn loan for the construction of a floating storage regasification unit (FSRU) in Lithuania. The financing is subject to credit guarantees by Norwegian credit agency GIEK and Korean credit agency K-sure. The vessel is expected online in Q314, according to Hoegh LNG CEO Sveinung Stohle. The company and Klaipedos Nafta signed a 10-year charter deal in March 2012 for the vessel, which will be used as a liquefied natural gas (LNG) import terminal in Lithuania.