Spanish utility Gas Natural Fenosa (GNF) has taken a Hoegh LNG floating storage and regasification unit on time charter.

A Hoegh spokesman confirms GNF has chartered the 170,000-cbm newbuilding Hoegh Giant for an initial period of three years.

He says the company will initially allocate the Hoegh Giant to the contract, adding that it has “substitution rights” on other vessels.