Hamilton, Bermuda, 6 January 2017 - Höegh LNG Holdings Ltd. (the "Company") announces a new organisational structure with effect from 15 January 2017. In order to further improve the Group's excellent operating performance, Höegh LNG will set up a new division, the Operations Division, which will be headed by the Chief Operating Officer, (COO), who will have responsibility for the technical and commercial management of all Höegh LNG assets in operation. Mr. Vegard Hellekleiv, previously Chief Technical Officer, has been nominated to the position of COO. Mr. Øivin Iversen, who until 2016 headed Höegh LNG's FLNG activities, will replace Mr. Hellekleiv as Chief Technical Officer.
The new senior management team will consist of:
- Sveinung J.S. Støhle, President and Chief Executive Officer
- Steffen Føreid, Chief Financial Officer
- Vegard Hellekleiv, Chief Operating Officer
- Ragnar Wisløff, Chief Development Officer
- Øivin Iversen, Chief Technical Officer
- Tom Solberg, Chief of Staff
Höegh LNG's President and CEO, Sveinung J.S. Støhle, says in a comment: "We have been very successful in growing our FSRU business, with currently six FSRUs and two LNGCs in operation, and we have another three FSRU projects coming on stream the next 18 months; in Ghana, Pakistan and Chile. Höegh LNG is the leading company in the FSRU segment, and we have a clear objective to further strengthen our position in this market. In order to optimize the way we work we are therefore adapting our organization to further improve our performance and competitive position. I am also very pleased to be able to draw from the experienced and highly competent members of the existing management team, since this ensures seamless handovers and is a testament to the depth of and broad experience that the members of the Höegh LNG team possess."
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About Höegh LNG:
Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs). Höegh LNG's vision is to be the industry leader of floating LNG solutions and the strategy is to continue to focus growth plans on the FSRU market, with the objective of securing long-term contracts with strong counterparts at attractive returns. Höegh LNG is a Bermuda based company with established presence in Norway, Singapore, the UK, USA, Indonesia, Lithuania, Egypt and Colombia. The company employs approximately 110 office staff and 500 seafarers.
Contacts:
Sveinung J. S. Støhle, President and Chief Executive Officer, Telephone +47 975 57 402 Steffen Føreid, Chief Financial Officer, Telephone + 47 975 57 406
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act or the Continuing Obligations of Oslo Børs
