Oslo-listed Hoegh says a letter of intent has been signed with Egyptian Natural Gas Holding (Egas) for the Hoegh Gallant.
Egas will take the vessel on a five-year deal which will generate EBITDA of $40m annually, a statement said.
The contract shows a slightfall in rate levels from the last comparable deal secured by Golar last year.
Herman Hildan of RS PlatouMarkets explains the vessel will now likely be available for drop down into theMLP, which Hoegh is looking to spin-off in the US.
