Wärtsilä Hamworthy Wins Another Höegh FSRU Contract

Maritime Activity Reports, Inc.

April 3, 2012

FSRU Construction: Photo credit Wärtsilä Hamworthy

FSRU Construction: Photo credit Wärtsilä Hamworthy

Hamworthy Oil & Gas Systems win contract for LNG regasification technology for a third Höegh LNG Floating Storage and Regasification Unit (FSRU)

Working together with Sinopacific Offshore and Engineering (SOE) Wärtsilä Hamworthy will design and supply the system concept whilst the key equipment and fabrication will be supplied by SOE.

The floating regasification market is experiencing significant uptake and Höegh have projected annual growth in the LNG market of 6-7% over the coming few years. Sveinung Støhle, Höegh LNG’s President and Chief Executive, was quoted as saying: “Our strategy to expand in the floating regasification market worldwide remains firm and we believe in strong continued growth in this segment.”

Reidar Strande, LNG Business Unit Director, Hamworthy Oil and Gas Systems said: “This contract for Höegh LNG follows on from the joint project with SOE in supplying our regasification module for the converted Golar Khannur. The module concept was a fast-track project allowing the regasification system to be almost complete before lifting onboard the vessel, with very few interfaces. Delivery of this equipment took place in November 2011.”

Hamworthy Oil & Gas Systems are a leading supplier of gas carrier cargo handling technology, as well as manufacturer of key cargo handling equipment. Extensive experience with cargo systems for LPG, ethylene and LNG handling is the basis of supplying new solutions in an ever expanding technically driven environment.

On 31st January 2012, Hamworthy plc was acquired by Wärtsilä Corporation. The official name is now Wärtsilä Hamworthy Ltd.

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