Höegh LNG - the FSRU provider
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Presentation at Pareto Oil & Offshore Conference September 12 th - - PowerPoint PPT Presentation
Hegh LNG - the FSRU provider Presentation at Pareto Oil & Offshore Conference September 12 th , 2018 Sveinung J.S. Sthle President & CEO 1 Forward looking statements This presentation contains forward- looking statements which
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This presentation contains forward-looking statements which reflects management’s current expectations, estimates and projections about Höegh LNG’s
forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,” “forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the negative of these terms and similar expressions are intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this presentation. Unless legally required, Höegh LNG undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changes in LNG transportation and regasification market trends; changes in the supply and demand for LNG; changes in trading patterns; changes in applicable maintenance and regulatory standards; political events affecting production and consumption of LNG and Höegh LNG’s ability to operate and control its vessels; change in the financial stability of clients of the Company; Höegh LNG’s ability to win upcoming tenders and securing employment for the FSRUs on order; changes in Höegh LNG’s ability to convert LNG carriers to FSRUs including the cost and time of completing such conversions; changes in Höegh LNG’s ability to complete and deliver projects awarded; changes to the Company’s cost base; changes in the availability of vessels to purchase; failure by yards to comply with delivery schedules; changes to vessels’ useful lives; changes in the ability of Höegh LNG to obtain additional financing, including the impact from changes in financial markets; changes in the ability to achieve commercial success for the projects being developed by the Company; changes in applicable regulations and laws; and unpredictable or unknown factors herein also could have material adverse effects on forward-looking statements.
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* 30 June 2018 ** H1 2018 annualised
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Cape Ann PGN FSRU Lampung Neptune Independence Höegh Grace Höegh Giant Arctic Princess Arctic Lady Höegh Gallant FSRU intermediate trading LNG carrier FSRU Höegh Esperanza
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Source: BP Energy Outlook 2018
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100 200 300 400 500 600 700 800 900 2000 2005 2010 2015 2020 2025 2030 2035 2040
mtpa
JKT Europe China India Other Asia MENA S America RoW LNG Capacity
Source: IHS Markit
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Source: IHS Markit
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BW LNGC-to-FSRU conversion Maran Gas: 1x FSRU ordered, 1x FSRU order cancelled (LNGC) Botas 1x FSRU for own project
8 8 5 2 1 2 1 1 2 1 2 4 6 8 10 12 Höegh LNG Excelerate Golar LNG BW Gas Other Single-purpose Units
Committed Available Committed NB Uncommitted NB
MOL Exmar Maran Dynagas Dynagas Gazprom Kol/Kal SWAN Java-1 OLT Botas
Built EBITDA Charterer USDm/yr Höegh LNG Holdings
Arctic Princess* 2006 19** Equinor Arctic Lady* 2006 19** Total Independence 2014 47 KN Höegh Giant 2017 Naturgy / Tendering Höegh Esperanza 2018 CNOOC / Tendering FSRU#9 2018 Naturgy / Tendering FSRU#10 2019 Tendering Höegh LNG Partners Neptune 2009 33** Total GDF Suez Cape Ann 2010 33** Total PGN FSRU Lampung 2014 40 PGN Höegh Gallant 2014 38 Egas Höegh Grace 2016 42 SPEC
Long-term contract LNGC interim trading Extension option Under construction FSRU and/or LNGC intermediate charter
2019 2021 2023 2025 2027 2029 2031 2020 2022 2036 2038 2024 2026 2028 2030 2032 2033 2035 2037 2034
11 * LNG carriers ** 100% basis, units are jointly owned
Delivery November 2018 Delivery May 2019
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FSRUs, 1,837
Other, 85
Cash & eq., 195 Interest-bearing debt, 1,003 Bonds, 314
Other, 17
Equity, 782 500 1,000 1,500 2,000 2,500 Assets Liabilities USDm
1) Adjusted for mark-to-market of hedging reserves
Höegh Giant on index-linked LNGC contract producing higher revenues Höegh Esperanza starting FSRU/LNGC contract in June
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10 20 30 40 50 60 70 80 1q14 2q14 3q14 4q14 1q15 2q15 3q15 4q15 1q16 2q16 3q16 4q16 1q17 2q17 3q17 4q17 1q18 2q18
USD million
10 20 30 40 50 1q14 2q14 3q14 4q14 1q15 2q15 3q15 4q15 1q16 2q16 3q16 4q16 1q17 2q17 3q17 4q17 1q18 2q18
USD million
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