Norway’s Hoegh LNG Holdings has signed a new loan deal worth a total of $685m to refinance two of its existing floating storage and regasification units which have recently arrived to start long-term contracts in Germany.

The company said the new facility, which will be split between the 170,000-cbm Hoegh Esperanza and Hoegh Gannet (both built 2018), is for a 10-year period, matching the length of the two regas vessel’s charters with Germany's Federal Ministry for Economic Affairs and Climate Action.