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LNG FSRU Named "Independence" in South Korea

Hyundai Heavy Industries Co., Ltd. (HHI) announced today it held a naming ceremony for a newbuilding LNG floating storage regasification unit (LNG FSRU) which was ordered from Höegh LNG in June 2011.

The naming ceremony of the LNG FSRU, Independence was held in Ulsan, South Korea and was attended by President Dalia Grybauskaitė of Lithuania; the sponsor of the ship, Mr. Leif O. Höegh, Deputy Chairman of Höegh LNG; and 130 other guests.

"It is a historic day for Lithuania. This vessel carrying a nice symbolic name "Independence" is a real step towards our energy independence and security, which means that we have an alternative and no one ever will blackmail us over gas prices or influence, through energy, our political or economic life. It means not only fair prices for our people, but also an economically stronger and more competitive Lithuania," President Dalia Grybauskaitė said.

The 170,000 cbm LNG FSRU, measuring 294 m in length, 46 m in width and 26 m in depth with the storage capacity of 70,000 tonnes of LNG will be chartered to Lithuania’s Klaipedos Nafta under a long-term contract.

 “We are pleased that the LNG FSRU will play a critical role in supplying LNG in Lithuania and we hope to keep up the close cooperation with Lithuania for the construction of energy infrastructure,” said Mr. Lee Jai-seong, Chairman & CEO of Hyundai Heavy at the ceremony.

The liquefied natural gas storage vessel is expected to reach the Klaipėda port in Lithuania before the end of the year. The LNG terminal in Klaipėda will be launched at the end of 2014.  

LNG Independence

Above: Naming ceremony of the LNG FSRU Independence Source:  Office of the President of the Republic of Lithuania  

Hyundai Heavy Industries LNG FSRU

Above: LNG floating storage regasification unit Independence  Image: Hyundai Heavy Industries Co., Ltd. (HHI)