Strategic Shift in Infrastructure Investments
Morgan Stanley Investment Management (MSIM) has made significant moves in the infrastructure investment landscape by announcing its decision to sell its 50% stake in Larus Holding Limited. This entity fully owns Höegh Evi Ltd., a prominent player in the floating energy infrastructure market. The new agreement is set in partnership with Igneo Infrastructure Partners, while the Høegh Family retains its own 50% stake in the company.
About Höegh Evi and Its Future Plans
Höegh Evi is regarded as a leader in the operation of Floating Storage and Regasification Units (FSRUs) and Liquid Natural Gas Carriers (LNGCs) across the globe. The company has embarked on a strategic repositioning towards clean energy infrastructure, reflecting the industry's shift toward sustainability. This includes advancing floating technologies for Carbon Capture and Storage (CCS) along with ammonia and hydrogen solutions. By 2028, Höegh Evi plans to introduce its hybrid FSRUs, allowing for the simultaneous import of LNG and hydrogen, greatly enhancing supply flexibility amid the ongoing energy transition.
Rebranding and Strategic Goals
In a move that signifies its commitment to an evolving energy landscape, Höegh Evi recently rebranded from Höegh LNG to Höegh Evi (Energy Vector Infrastructure). This change underlines its pioneering role in the energy transition and the development of a multi-energy sourcing framework. The company's initiatives reflect an increasing demand for robust energy solutions that align with global sustainability goals.
Value Creation Through Strategic Collaboration
Morgan Stanley Infrastructure Partners has focused on enhancing Höegh Evi's standing in the market since its acquisition, with the aim of boosting long-term LNG regasification capacities while ensuring energy security for numerous countries. Alberto Donzelli, MSIP’s Managing Director, stated that their cooperative endeavors with the Høegh Family have been instrumental in fortifying Höegh Evi’s market leader status.
Successful Delisting and Future Growth
In partnership with the Høegh Family, who have a long-standing legacy in the international shipping sector, MSIP has successfully taken strategic steps by de-listing Höegh Evi from the Oslo Stock Exchange in May 2021 and transitioning the previously public subsidiary Höegh LNG Partners from the New York Stock Exchange in September 2022 into a private entity.
About Höegh Evi Ltd.
Höegh Evi plays a critical role in supporting energy transitions by offering efficient and reliable solutions tailored to the changing energy requirements of various countries. Over the past five decades, the company has established itself as a groundbreaking figure in floating energy infrastructure, operating one of the largest fleets of FSRUs worldwide. Currently, Höegh Evi is actively laying down the infrastructure necessary for a successful energy transition, including innovations in ammonia and hydrogen terminals and carbon transport solutions.
About Morgan Stanley Infrastructure Partners
Morgan Stanley Infrastructure Partners is a premier global platform that manages approximately $17 billion in assets aimed at impactful infrastructure investments. Since its inception in 2006, MSIP has developed a diverse portfolio encompassing over 40 investments spanning transport, digital infrastructure, energy transition, and utilities.
About Morgan Stanley Investment Management
Morgan Stanley Investment Management employs over 1,300 professionals globally, managing upwards of $1.6 trillion in assets. The firm's dedication to delivering exceptional long-term performance and diverse investment solutions aligns with the needs of its varied clientele, including institutions and individuals around the globe.
About Morgan Stanley
As a leading global financial services firm, Morgan Stanley (NYSE: MS) provides an extensive array of investment banking, securities, wealth management, and investment management services. Operating in 42 countries, the firm is well-equipped to cater to its client base which includes governments, corporations, and individuals.
Frequently Asked Questions
What is the recent business move by Morgan Stanley Infrastructure Partners?
Morgan Stanley Infrastructure Partners has entered an agreement to sell its 50% stake in Larus Holding Limited, owner of Höegh Evi Ltd.
What is Höegh Evi known for?
Höegh Evi is recognized as one of the leading operators of floating storage and regasification units (FSRUs) and LNG carriers globally, focusing on energy transition initiatives.
What are the future plans of Höegh Evi?
The company plans to transition to hybrid FSRUs by 2028, which will allow for the concurrent import of LNG and hydrogen.
How has Morgan Stanley enhanced Höegh Evi’s market position?
Through close collaboration with the Høegh Family, Morgan Stanley has strengthened Höegh Evi’s leadership in the FSRU market and improved its energy security capabilities.
What is the overall vision of Morgan Stanley Infrastructure Partners?
The vision of MSIP includes creating substantial value through innovative partnerships and investments in vital infrastructure sectors.
