Port Dolphin Energy LLC, a wholly owned US subsidiary of the Norway based company Höegh LNG AS, submitted in 2007 an application to the U.S. Coast Guard for approval to build and operate a Deep Water Port for the import of natural gas to Florida’s west coast.

The proposed project will consist of:

• One or more LNG Shuttle and Regasification Vessels (SRVs), which are purpose built LNG vessels designed to regasify the LNG onboard and deliver natural gas to a subsea pipeline; and

• two submerged turret unloading and mooring buoys (STL type) to receive an average of up to 800 million cubic feet per day of natural gas; and

• a 42 mile offshore pipeline to bring the natural gas from the offshore terminal to Port Manatee in Tampa Bay; and

• a 4 mile onshore pipeline ending at an interconnection station with inter- and intrastate pipelines.

Port Dolphin is scheduled to start commercial operations by 2011 with a peak send-out capacity of 1.2 Bcf/d.

Says Sveinung Støhle, President and CEO of Höegh LNG: “We are very pleased to see that the project is progressing according to plan. Florida is an important and growing market for natural gas, and Port Dolphin will offer our customers new LNG import capacity and thus the possibility for them to diversify their sources and increase the security of supply to their consumers.

Port Dolphin is an integral part of our strategy to provide the market with the complete offshore LNG chain; LNG production, transportation, regasification and market access. We look forward to continue to work with our customers to enhance the value of their product by the use of our innovative and flexible LNG services.”

Höegh LNG

Höegh LNG is a fully integrated ship-owning company offering long-term floating production, transportation, re-gasification and terminal solutions for Liquefied Natural Gas (LNG). The company operates a fleet of five LNG carriers and has two innovative Shuttle and Re-gasification Vessels (SRV) on order. In addition to transporting the LNG, these vessels will act as floating terminals while delivering the natural gas to the market. Höegh LNG’s strategy is to add value to its customers by broadening its service scope to include solutions for floating production, re-gasification terminals and delivery of natural gas. The company is developing two deepwater terminals based on SRV technology in Florida and UK.

In addition to the head office centrally located in Oslo, Höegh LNG has established presence in London (UK) and Tampa (Florida). Höegh LNG is owned by Leif Höegh & Co Limited, a privately owned company incorporated in Bermuda. The first Höegh shipping company was founded in 1927. See www.hoegh.com.

Contact: Sveinung Støhle, CEO, Höegh LNG +47 4003 9969

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