Acquisition of FSRU Independence by KN Energiés completed

06 Dec 2024 08:00 CET

December 6, 2024 - Hamilton, Bermuda and Klaipéda, Lithuania. Höegh Evi, a
global leader in marine energy infrastructure solutions, has officially
transferred ownership of the floating storage and regasification unit (FSRU)
Independence to KN Energies and the country of Lithuania, marking a significant
milestone in the nation's energy development.

The Independence was commissioned by the Republic of Lithuania in 2014 and was
engineered with regasification capacity to fully meet the country's gas needs.
The agreement between Höegh Evi and the Republic of Lithuania provided for the
option to acquire and own the FSRU by the end of 2024. The transfer of ownership
to the state underscores Lithuania's long-term commitment to maintaining this
critical asset.

"Klaipeda's LNG terminal stands as a powerful symbol of Lithuania's political
resolve, determination, and commitment to achieving energy independence. It has
played a pivotal role in reshaping the country's energy landscape and enhancing
regional energy security, opening up new opportunities for diversification. The
terminal represents Lithuania's frontline in the ongoing pursuit of energy
independence, and we take immense pride in the fact that the Lithuanian flag
will now proudly fly over it," said the President of the Republic of Lithuania,
Gitanas Nauseda.

Independence: a symbol of success in energy security

Under Höegh Evi's management, the Independence has supplied nearly 16 billion
cubic meters of natural gas to Lithuania and surrounding countries. It has
maintained a strong operational record, with close to 500 ship-to-ship
operations and no safety incidents.

"The acquisition of the FSRU Independence by Lithuania is a proud moment for
Höegh Evi. A decade ago, Lithuania's vision to leverage marine infrastructure
for energy security set a powerful example. The Independence is now a
cornerstone of the region's critical energy infrastructure. Höegh Evi is
honoured to continue working with KN Energiés to provide Lithuania and its
neighbours with a reliable supply of natural gas," said Erik Nyheim, President &
CEO of Höegh Evi.

Höegh Evi to continue as technical operator of FSRU Independence

After the transfer of ownership, Höegh Evi will continue to provide KN Energiés
with technical and operational management of the vessel.

"While the ownership of Independence is changing, our decade-long partnership
with Höegh Evi remains strong. Hoegh LNG Klaipeda, part of the Höegh Evi group,
will continue to provide technical operation and maintenance of the FSRU for the
next five years, with an option to extend this cooperation for an additional
five years. Over the years, the company has proven to be a reliable and trusted
partner, and we are pleased to see this mutually beneficial and growth-oriented
partnership continue," said Darius Silenskis, CEO of KN Energies.

Media contact, Höegh Evi:

Christine Corkery Steinsholt

Head of External Communications and Marketing

Christine.steinsholt@hoeghevi.com | +47 95 09 5481

About Höegh Evi:

Höegh Evi is the vital link to secure transition-delivering fast, adaptable, and
secure solutions that respond to countries' evolving energy needs. For 50 years,
Höegh Evi has been a pioneer and global leader in floating energy
infrastructure, with one of the world's largest fleets of FSRUs (floating
storage and regasification units) for importing natural gas.

Today, Höegh Evi is building the infrastructure needed to make the energy
transition possible, with floating terminals for ammonia and hydrogen import,
the world's first floating ammonia-to-hydrogen cracker, and services for carbon
transport and permanent storage.

Höegh Evi is a global company with a highly skilled global team of 900 employees
at sea and onshore. Learn more at hoeghevi.com

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