Höegh LNG operates the world’s largest dedicated fleet of Floating Storage and Regasification Units, with 10 FSRUs deployed across six countries and a combined sendout capacity of approximately 5.5 billion cubic metres per day. The Oslo-headquartered company pioneered the long-term FSRU charter model that has since become the industry standard for fast-tracked LNG import infrastructure worldwide.
Höegh LNG — Company Overview
Founded in Norway and headquartered in Oslo, Höegh LNG is a subsidiary of Leif Höegh & Co, one of Norway’s oldest shipping conglomerates. The company was taken private in a transaction involving Leif Höegh & Co and Morgan Stanley Infrastructure Partners, ending its period as a publicly listed entity on the Oslo Stock Exchange.
Höegh LNG’s core business is the ownership, operation, and long-term charter of FSRUs — purpose-built vessels that receive LNG from carriers, store it in cryogenic tanks, and regasify it for delivery into national gas transmission networks. The model allows importing countries to establish LNG import capacity in months rather than the years required for onshore terminal construction.
FSRU Fleet & Global Deployments
The Höegh LNG fleet spans six countries: Lithuania, Egypt, Pakistan, Colombia, Uruguay, and Indonesia. Each deployment is structured around a long-term charter agreement with a national utility or government-backed off-taker, providing contracted revenue visibility that underpins the company’s fleet expansion strategy.
The global FSRU fleet reached approximately 50 vessels in 2026, operating at near-100% utilisation as energy security concerns sustained demand well beyond the initial post-2022 European surge. New FSRU orders placed in 2023 and 2024 are expected to deliver seven to ten additional units by 2027, with Höegh LNG positioned to capture a share of that contracted pipeline. The top 10 FSRU operators globally now manage a fleet that has become a permanent fixture in LNG supply infrastructure rather than an interim solution.
Pakistan and Egypt represent Höegh LNG’s exposure to high-growth import markets. Both countries have expanded FSRU-based import capacity significantly since 2022 as domestic gas production declined and power generation demand increased. Colombia and Uruguay demonstrate the model’s applicability in Latin America, where pipeline gas constraints have driven LNG adoption among mid-sized economies.
The Independence FSRU — Klaipėda, Lithuania
The Independence FSRU, moored at Klaipėda in Lithuania since 2014, remains Höegh LNG’s most strategically significant deployment. Chartered to Lietuvos Dujų Tiekimas, Lithuania’s state energy company, the vessel ended the country’s near-total dependence on Russian pipeline gas and became a reference project for FSRU-led energy security across the Baltic region.
At the time of commissioning, Independence was among the largest FSRUs afloat. Its deployment was completed in under two years from contract signing — a timeline no onshore terminal could match. The project demonstrated that national LNG import infrastructure could be established quickly and cost-effectively, a lesson applied repeatedly across Europe after 2022.
The Klaipėda terminal feeds into the Baltic gas network and has supplied LNG from multiple origins including the United States, Qatar, and Norway. For a broader view of how European floating import infrastructure has evolved, the HIGAS LNG terminal in Sardinia illustrates how FSRU solutions continue to be applied to isolated or grid-constrained markets.
Höegh LNG — 2026 Strategy & Market Position
Höegh LNG enters 2026 with its fleet fully contracted and a development pipeline shaped by sustained FSRU demand in Asia and emerging markets. The company’s private ownership structure — without the quarterly earnings pressures of a listed entity — supports a longer contracting horizon and the capital discipline required for new vessel orders.
Post-2022 European energy security spending accelerated FSRU procurement across the continent, with Germany, Italy, Finland, and Greece all commissioning floating import capacity. That demand wave has now largely been absorbed, shifting the primary growth market back to Asia and Sub-Saharan Africa, where grid-connected gas demand continues to expand. Höegh LNG’s established presence in Indonesia positions it well for the wider Southeast Asian LNG import build-out.
The FSRU market’s near-100% utilisation rate leaves minimal spare capacity for spot charters, reinforcing the long-term contracting model Höegh LNG pioneered. For context on where floating import terminals sit within the broader LNG infrastructure picture, the top 10 LNG terminals globally covers the full range of onshore and floating import capacity.
The International Group of Liquefied Natural Gas Importers (GIIGNL) tracks FSRU deployment data and global LNG trade flows that underpin Höegh LNG’s contracted markets.
Höegh LNG — Company Snapshot
| Detail | Data |
|---|---|
| Full name | Höegh LNG Holdings |
| Headquarters | Oslo, Norway |
| Ownership | Leif Höegh & Co / Morgan Stanley Infrastructure Partners |
| Fleet size | 10 FSRUs (2026) |
| Countries of operation | Lithuania, Egypt, Pakistan, Colombia, Uruguay, Indonesia |
| Combined sendout capacity | ~5.5 bcm/day |
| Flagship project | Independence FSRU, Klaipėda, Lithuania (operational 2014) |
| Business model | Long-term FSRU charter agreements |
| höegh lng market position | World’s largest dedicated FSRU fleet operator |
What does Höegh LNG specialise in?
Höegh LNG specialises in the ownership, operation, and long-term charter of Floating Storage and Regasification Units (FSRUs). The company pioneered the long-term FSRU charter model, which allows countries to establish LNG import infrastructure within months rather than the years required for onshore terminal construction.
How many FSRUs does Höegh LNG operate?
Höegh LNG operates 10 FSRUs as of 2026, with a combined sendout capacity of approximately 5.5 billion cubic metres per day. The global FSRU fleet reached around 50 vessels in 2026, with Höegh LNG holding the largest dedicated position in that market.
Where are Höegh LNG’s FSRUs deployed?
Höegh LNG’s FSRUs are deployed across six countries: Lithuania, Egypt, Pakistan, Colombia, Uruguay, and Indonesia. Each vessel operates under a long-term charter agreement with a national utility or government-backed counterparty.
Who owns Höegh LNG?
Höegh LNG is privately owned by Leif Höegh & Co, one of Norway’s oldest shipping groups, and Morgan Stanley Infrastructure Partners. The company was taken private from the Oslo Stock Exchange in a transaction involving both parties.
What is Höegh LNG’s role in European energy security?
Höegh LNG’s Independence FSRU at Klaipėda, Lithuania, commissioned in 2014, ended Lithuania’s near-total dependence on Russian pipeline gas and became a reference project for rapid LNG import infrastructure across Europe. The post-2022 energy security response across the continent accelerated FSRU adoption, a market shift that benefited Höegh LNG’s fleet utilisation and contracting pipeline.