Höegh LNG and Perusahaan Gas Negara (PGN) have signed terms for the LNG Floating Storage and Regasification Unit (“FSRU”) and mooring to form an offshore LNG receiving terminal offshore Labuhan Maringgai, in the Lampung province, at the south east coast of Sumatra, Indonesia.
The agreement is for a 20-year charter with two 5-year options to extend for a total period of 30 years. The mooring system will be procured by Höegh LNG, with PGN to pay for and take ownership in it once it is completed.
Baker Botts L.L.P. represented Höegh LNG in the transaction.
“The parties succeeded in overcoming exceedingly complex issues to sign a project that can now proceed to deliver an important part of Indonesia’s energy infrastructure,” said Baker Botts Partner Russell Wilkinson, who served as lead lawyer for Höegh LNG.
- Leading Project, Islamic Finance Lawyer Christopher Aylward Joins Middle East Practice of Baker Botts L.L.P.
- Baker Botts Continues Middle East Expansion With ILG-Kuwait Alliance
- Leading Corporate Partner Vanessa Abernethy Joins Baker Botts L.L.P.
- Stamford Law Successfully Represented Venture Capitalist Tembusu in the High Court of Singapore
- Linklaters Celebrates the First Anniversary of the Dim Sum Bond Market by Advising on the Largest Ever Offshore RMB Bond