Höegh LNG Partners LP Appoints Non-Executive Chairman of the Board of Directors

Rhea-AI Summary

Höegh LNG Partners LP (NYSE: HMLP) has appointed Andrew Jamieson as the new Non-Executive Chairman of its Board of Directors, effective September 11, 2020. Jamieson has been a director since the Partnership's inception. The board will now consist of seven members, with four being independent. Sveinung J. S. Støhle, the current CEO, will continue as a director. The company focuses on owning and operating floating storage and regasification units (FSRUs), boasting five units with an impressive average remaining contract duration of nine years as of June 30, 2020.

Positive

• Appointment of experienced Andrew Jamieson as Non-Executive Chairman may strengthen board leadership.
• The board's composition includes four independent members, enhancing governance.

Negative

• No significant changes in executive leadership; continuity risks may persist.

HAMILTON, Bermuda, Sept. 11, 2020 /PRNewswire/ -- Höegh LNG Partners LP (the "Partnership") (NYSE: HMLP) announced that the Partnership's Board of Directors has today appointed as Non-Executive Chairman Andrew Jamieson, who has served as a director of the Partnership since its formation. Sveinung J. S. Støhle, CEO of Höegh LNG Partners LP, will remain a director, and the seven-person board will consist of four independent members, including Mr. Jamieson.  

About Höegh LNG Partners LP

Höegh LNG Partners LP is a growth-oriented limited partnership formed by Höegh LNG Holdings Ltd. (Oslo Børs ticker: HLNG), a leading floating LNG service provider. HMLP's strategy is to own, operate and acquire floating storage and regasification units ("FSRUs") and associated LNG infrastructure assets under long-term charters. It has interests in five FSRUs that have an industry leading average remaining firm contract duration of 9 years plus options as of June 30, 2020.

Contact:

The IGB Group, Bryan Degnan, +1 (646) 673-9701 / Leon Berman, +1 (212) 477-8438
Knut Johan Arnholdt, VP IR and Strategy, +47 922 59 131

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SOURCE Hoegh LNG Partners LP

FAQ

Who has been appointed as the new Non-Executive Chairman of Höegh LNG Partners LP?

Andrew Jamieson has been appointed as the new Non-Executive Chairman of Höegh LNG Partners LP.

What are the implications of Andrew Jamieson's appointment for Höegh LNG Partners LP?

His appointment is expected to provide fresh perspectives and strengthen board leadership.

What is the current board structure of Höegh LNG Partners LP after the appointment?

The board consists of seven members, including four independent directors.

What business does Höegh LNG Partners LP focus on?

Höegh LNG Partners LP focuses on owning and operating floating storage and regasification units (FSRUs).

How long are the remaining contracts for Höegh LNG's FSRUs?

As of June 30, 2020, the average remaining firm contract duration for its FSRUs is nine years.