Igneo Infrastructure Partners wraps up Hoegh Evi stake buy

Hoegh Evi said via social media that Igneo Infrastructure Partners, a part of First Sentier Investors Group, has completed the transaction on April 30.

“We are excited to welcome Igneo as long-term owners and thank Morgan Stanley Infrastructure Partners for their contribution to Hoegh Evi’s development during their ownership,” the firm said.

In December, funds managed by Igneo Infrastructure Partners entered into agreements to acquire the 50 percent ownership stake in Larus Holding, the 100 percent owner Hoegh Evi, from funds managed by Morgan Stanley Infrastructure Partners.

Hoegh family holding company Aequitas continues to control the remaining 50 percent of Hoegh Evi.

Hoegh’s fleet comprises ten FSRUs and three LNG carriers.

The entire FSRU fleet is operating under long-term contracts.

In September last year, Hoegh LNG changed its name to Hoegh Evi to reflect the recent expansion of Hoegh’s focus beyond LNG import terminals.

Hoegh Evi and a unit of Finnish tech firm Wartsila recently developed what they say is the world’s first floating ammonia-to-hydrogen cracker.

This technology enables floating import terminals to produce hydrogen at industrial-scale volumes from transported ammonia.