Höegh LNG, a subsidiary of Höegh LNG Holdings, has applied for an LNG infrastructure ownership, operations and development license in Cyprus.
Cyprus needs to transition from refined oil products to using LNG as fuel to reach new emission targets and diversify its energy mix. The country will use one of Höegh LNG’s FSRUs as a fast track solution. This will help reduce air emissions, cut EU emission taxes, save money on fuel costs and reduce electricity prices for local consumers.
The FSRU can be used as a temporary or long-term solution and can be used for bulk breaking and delivering LNG to other customers in the Mediterranean.
Höegh LNG will work with VTT Vasiliko and H4E GasFuel. VTTV owns an existing jetty at the Vasilikos Port, close to the country’s power plants. The jetty can be adapted for the FSRU terminal. Once the license is granted, Höegh LNG expects to start LNG import operations during the first half of 2021.