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Höegh boss Støhle sees LNG-import opportunity in Australia

Tue 21 Mar 2017 by Karen Thomas

Höegh boss Støhle sees LNG-import opportunity in Australia

Höegh LNG president and chief executive Sveinung Støhle has responded to the row over Australia’s looming gas shortage, saying that the country is “top of the opportunity list” to import LNG.

In an interview yesterday with Reuters, Mr Støhle said Höegh is in talks with Australia’s energy retailers about supplying a floating storage and regasification units (FSRU) to import LNG to southern regions that face a shortage of gas.

Mr Støhle said buyers in Australia could take advantage of global LNG oversupply, which is pushing down prices, to break the grip of the country’s big gas producers. He told Reuters that Höegh could position an FSRU off Australia by year-end. “If [gas buyers] are not happy with the price they’re paying in Australia, well then, they can buy LNG in the market,” he said. “It gives you commercial flexibility.”

Höegh ordered its ninth and tenth FSRUs, with options, in separate January deals with South Korean shipyards Samsung Heavy Industries and Hyundai Heavy Industries.

Australia-based critics are pressing the energy majors behind the country’s huge export projects to set aside more gas for domestic use.

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