Posted - 14 August 2013 10:56 GMT - Bill Lehane - Upstream
Norway’s Hoegh LNG has added two senior executives and
reshuffled its business organisation as it seeks further expansion in
the floating LNG sector.
Chief
executive Sveinung Stohle said the top management expansion came as a result of
the company’s success in gaining long-term contracts for floating storage and regasification units.
The contractor has long-term deals in Indonesia, Chile and Lithuania for three of its FSRUs and operates two others under charter.
Hoegh LNG Asia managing director Ragnar Wisloff has been appointed chief commercial officer of the group, while senior vice president of regasification Vegard Hellekleiv has been named chief technical officer.
Both take up their new posts next month.
The Oslo-headquartered, Bermuda-registered floating LNG contractor is also reorganising its prior tripartite business into four divisions: technical, commercial, financial and administrative, in a switch to take effect in next year’s accounts.
In March, the company reported a widened quarterly loss of $7.9 million for the first quarter despite rising revenues as deprecation and interest costs ate up earnings.
The contractor has long-term deals in Indonesia, Chile and Lithuania for three of its FSRUs and operates two others under charter.
Hoegh LNG Asia managing director Ragnar Wisloff has been appointed chief commercial officer of the group, while senior vice president of regasification Vegard Hellekleiv has been named chief technical officer.
Both take up their new posts next month.
The Oslo-headquartered, Bermuda-registered floating LNG contractor is also reorganising its prior tripartite business into four divisions: technical, commercial, financial and administrative, in a switch to take effect in next year’s accounts.
In March, the company reported a widened quarterly loss of $7.9 million for the first quarter despite rising revenues as deprecation and interest costs ate up earnings.
Post to be found at:
http://www.upstreamonline.com/live/article1334455.ece
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