Hoegh LNG Announces New Business Segments from Third Quarter 2013 (Norway)

Höegh LNG’s financial reporting segment structure will be changed with effect from the third quarter 2013 to reflect the group’s new organisation and management responsibilities.

The new structure is in accordance with the group’s internal financial reporting, and divided into the following four segments:

Commercial segment

The Commercial segment is responsible for the commercial management of the group’s fleet of regasification and transportation vessels and tender activities for new regasification and transportation business.

Technical segment

The Technical segment is responsible for the technical management of the group’s fleet of regasification and transportation vessels. The segment is also responsible for the delivery of new regasification and transportation projects. Upon delivery, the commercial management of such projects will be handed over to the Commercial segment.

FLNG

The floating liquefaction (FLNG) segment is responsible for the marketing, building and operation of floating liquefaction plants for LNG.

Other

The Other segment consists of group management, finance, legal and other corporate services.

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LNG World News Staff, November 08, 2013