The company has signed a letter of intent for one firm and three options for 170,000 cu m FSRUs with the South Korean shipbuilder. The first two units are scheduled for delivery in 2019 and the second pair in 2020. A full shipbuilding for the firm vessel is expected to be signed in January 2017.

No financial details of the deal were disclosed.

"Last week we secured a new FSRU employment contract, and today we follow up with the ordering of our next series of FSRU  newbuildings, in line with our declared strategy,” said Sveinung J.S. Støhle, ceo of Höegh LNG.

“With this agreement with SHI, whose selection has been subject to a competitive international tender, Höegh LNG has taken advantage of a very favorable newbuilding market to position itself for further expansion in the FSRU segment."

The company currently has a fleet of five FSRUs.