Höegh LNG reported financial results for the first quarter of 2014, with an EBITDA of -$1.0 million and loss before tax of $4.5 million. Two FSRU projects were completed on time and on budget, with the PGN FSRU Lampung delivered in April and the Independence delivered in May. A letter of intent was also signed for a 5-year FSRU contract with Egas of Egypt. Global LNG demand is expected to continue strong growth in Asia and other markets. Höegh LNG aims to further expand its fleet of FSRUs and pursue FLNG opportunities.
ERHC Energy Presentation to Growth Company Investor ShowDan Keeney
ERHC Energy Vice President Corporate Development, David Bovell, presented this week at the Growth Company Investor Show in London. He gave an overview of the Company's assets, the NSAI estimates of ERHC's prospective resources and the revised growth strategy.
This program is a valuable, detailed insight into FSRU
technology and markets. It will benefit:
• National Utility Operators and Power Generation
Providers
• Oil & Gas Engineers
• Naval Architects, Design Engineers, Shipbuilders &
Shipyard Managers
• EPCs
• LNG Terminal & Vessel Operators
• LNG Technology and Equipment Providers
One of my last article about Global LNG Industry which was used as PR material for FSRU Asia Summit 2016, http://www.fsrusummit.com/ The original article can be read in this link https://energyroutes.eu/2016/05/08/global-lng-market-trends-and-future-outlook/
ERHC Energy Presentation to Growth Company Investor ShowDan Keeney
ERHC Energy Vice President Corporate Development, David Bovell, presented this week at the Growth Company Investor Show in London. He gave an overview of the Company's assets, the NSAI estimates of ERHC's prospective resources and the revised growth strategy.
This program is a valuable, detailed insight into FSRU
technology and markets. It will benefit:
• National Utility Operators and Power Generation
Providers
• Oil & Gas Engineers
• Naval Architects, Design Engineers, Shipbuilders &
Shipyard Managers
• EPCs
• LNG Terminal & Vessel Operators
• LNG Technology and Equipment Providers
One of my last article about Global LNG Industry which was used as PR material for FSRU Asia Summit 2016, http://www.fsrusummit.com/ The original article can be read in this link https://energyroutes.eu/2016/05/08/global-lng-market-trends-and-future-outlook/
FSRU (Floating Storage and Regasification Unit) LNG Terminal is the disruptive technology becoming the most popular solution for countries needing natural gas for their power, fertiliser and transport sectors. This presentation is to understand the Risk Management, Financing, and insurance issues connected with this industry
Introduction to Floating Storage & Regasification Unit (FSRU)petroEDGE
Over the next 2 or 3 decades it is predicted that gas usage will grow at a much faster rate than oil and become the dominant energy source. Up to some 40% of gas comes from Offshore Fields. The transport of gas in the form of LNG is growing very fast – particularly for longer distance export routes. New offshore opportunities for gas production are being developed with the new technologies of Floating LNG (FLNG).
Inshore or Offshore FSRU’s provide safe, strategic and good location for the receiving terminals for LNG and provide the conversion of the methane from the liquid phase back to the gaseous phase to direct consumer usage.
This 2 day training course covers Gas and LNG activities – their Supply Chain from Onshore and Offshore Gas Fields to Market, with FSRU’s providing the last step by converting the LNG back to usable methane gas for local supply and use. Case Studies and videos will be used to illustrate lessons learned from past successful projects. A DVD of the powerpoint presentation and numerous Industry videos will be distributed with the lecture materials.
Professional PowerPoint template for oil and gas presentations.
This is a fully customizable template with individual graphic elements and images. You are free to adjust cover, divider, and content slider header layouts.
Download at: http://www.powerpointteam.com/oil-industry-powerpoint-template.html
Available in standard and widescreen format.
Your comments will be highly appreciated. Thank you!
The PowerPoint presentation used by top management from Eclipse during their March 2015 analyst/investor phone call in which they chronicled the transformative year they had in 2014 and talked about their strategy for 2015. Eclipse drills mostly in eastern Ohio in the Utica and Marcellus Shale.
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...beulahfernandes8
The financial landscape in India has witnessed a significant development with the recent collaboration between Poonawalla Fincorp and IndusInd Bank.
The launch of the co-branded credit card, the IndusInd Bank Poonawalla Fincorp eLITE RuPay Platinum Credit Card, marks a major milestone for both entities.
This strategic move aims to redefine and elevate the banking experience for customers.
Exploring Abhay Bhutada’s Views After Poonawalla Fincorp’s Collaboration With...
Hoegh LNG Q1 2014 results presentation
1. Höegh LNG – The floating LNG services provider
First Quarter 2014
Presentation of financial results
23 May 2014
2. Forward looking statements
2
This presentation contains forward-looking statements which reflects management’s current expectations, estimates and projections about
its operations. All statements, other than statements of historical facts, that address activities and events that will, should, could or may
occur in the future are forward-looking statements. Words such as “may,” “could,” “should,” “would,” “expect,” “plan,” “anticipate,” “intend,”
“forecast,” “believe,” “estimate,” “predict,” “propose,” “potential,” “continue” or the negative of these terms and similar expressions are
intended to identify such forward-looking statements. These statements are not guarantees of future performance and are subject to
certain risks, uncertainties and other factors, some of which are beyond our control and are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or forecasted in such forward-looking statements. You should not place undue
reliance on these forward-looking statements, which speak only as of the date of this presentation. Unless legally required, Höegh LNG
undertakes no obligation to update publicly any forward-looking statements whether as a result of new information, future events or
otherwise.
Among the important factors that could cause actual results to differ materially from those in the forward-looking statements are: changes
in LNG transportation and regasification market trends; changes in the supply and demand for LNG; changes in trading patterns; changes
in applicable maintenance and regulatory standards; political events affecting production and consumption of LNG and Höegh LNG’s
ability to operate and control its vessels; change in the financial stability of clients of the Company; Höegh LNG’s ability to win upcoming
tenders and securing employment for the FSRUs on order; changes in Höegh LNG’s ability to convert LNG carriers to FSRUs including
the cost and time of completing such conversions; changes in Höegh LNG’s ability to complete and deliver projects awarded; increases in
the Company’s cost base; changes in the availability of vessels to purchase; failure by yards to comply with delivery schedules; changes
to vessels’ useful lives; changes in the ability of Höegh LNG to obtain additional financing, in particular, currently, in connection with the
turmoil in financial markets; the success in achieving commercial success for the projects being developed by the Company; changes in
applicable regulations and laws; and unpredictable or unknown factors herein also could have material adverse effects on forward-looking
statements.
4. First quarter 2014 - Highlights and subsequent events
4
Mandatory change in accounting standard for recognition of joint venture
investments from proportionate consolidation to the equity method
EBITDA of USD (1.0) million and loss before tax USD 4.5 million
Signed a USD 412 million loan facility for the Höegh Gallant and FSRU #4
Tower Yoke Mooring System (TYMS) for the PGN FSRU project installed
PGN FSRU Lampung delivered from yard and connected to the TYMS
The second FSRU, Independence, delivered from yard
Letter of Intent for 5 year FSRU contract signed with Egas of Egypt
Höegh LNG Partners LP (“MLP”) made confidential submission to the United
States Securities and Exchange Commission of initial draft registration
statement for initial public offering of common units of the MLP
6. Impact on consolidated figures from change in accounting standard
6
Reduction in Income, EBITDA and EBIT - net profit remains same
Reduction in liabilities and total assets - equity remains same
USD'000 1Q2014 1Q2014
Total income 51,3 59,3
Operating profit before depreciation (1,0) 8,4
Operating profit (3,9) 2,1
Profit or (loss) for the period (4,5) (4,5)
31.03.2014 31.03.2014
Total assets 739 1 160
Equity adjusted for hedging reserves 453 453
Net interest bearing debt 146 527
Equity ratio adj. for hedging reserves 61 % 39 %
Consolidated by the proportionate methodConsolidated by the equity method
7. Income statement
7
USD million 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013
Income on T/C basis 17,2 17,8 17,2 11,3 15,6
Construction contract revenue 28,2 14,6 11,8 26,3 -
Management and other income 3,6 8,9 3,8 1,6 1,7
Share of results from investments in joint ventures 2,2 4,2 3,8 3,6 3,5
TOTAL INCOME 51,3 45,5 36,7 42,7 20,7
Charterhire expenses (8,7) (8,9) (8,9) (8,8) (8,7)
Construction contract expenses (24,0) (12,8) (10,4) (22,5) -
Operating expenses (6,4) (6,2) (5,7) (5,9) (5,8)
Administrative expenses (6,2) (4,9) (4,4) (3,9) (3,9)
Business development expenses (7,0) (11,1) (5,9) (4,1) (4,5)
EBITDA (1,0) 1,5 1,3 (2,4) (2,2)
Depreciation (2,9) (4,6) (4,4) (4,3) (3,9)
EBIT (3,9) (3,1) (3,1) (6,7) (6,2)
Interest expenses (0,4) (0,6) (0,1) (0,1) (2,5)
Interest income 0,5 0,5 0,5 0,6 0,7
Other financial items (0,7) (1,1) 0,1 0,2 0,5
PROFIT OR (LOSS) BEFORE TAX (4,5) (4,2) (2,6) (6,0) (7,6)
Taxes (0,0) 0,3 (0,2) (0,1) (0,4)
NET PROFIT OR (LOSS) (4,5) (3,9) (2,8) (6,1) (7,9)
8. Financial position
8
USD million 31.03.2014 31.12.2013 30.09.2013 30.06.2013 31.03.2013
Licences, design and other intangibles 74 74 74 74 74
Investments in newbuildings under construction and vessels 455 421 388 387 366
Shareholder loans to joint ventures 23 25 26 27 28
Investments in joint ventures 0 0 7 8 6
Mark-to market on hedging reserves 14 18 12 13 3
Other assets 10 19 17 19 19
Restricted cash (non-current) - - - 1 -
Unbilled construction contract receivable 81 53 38 25 -
Current cash and marketable securities 82 75 101 108 162
TOTAL ASSETS 739 684 665 662 657
Total equity 374 389 381 381 349
Investments in joint ventures 89 86 97 103 130
Interest bearing debt 227 165 154 148 152
Mark-to market on hedging reserves 14 14 8 8 7
Other liabilities 34 31 25 22 20
TOTAL EQUITY AND LIABILITIES 739 684 665 662 657
Total equity adjusted for MtM on interest rate swaps 456 460 461 463 469
Equity ratio adjusted for MtM on interest rate swaps 62% 67% 69% 70% 71%
Net interest bearing debt * 146 90 52 39 (10)
* [IBD less cash, mark.securities and restricted cash]
9. Cash flow statement
9
USD million 1Q2014 4Q2013 3Q2013 2Q2013 1Q2013
Net profit or (loss) before tax (4) (4) (3) (6) (8)
Adjustments of non-cash P&L items (3) (1) (1) (3) 2
Dividend received from joint ventures 1 9 3 1 1
Net changes in working capital, other 6 0 3 (6) 2
Net cash flow from operating activities (1) 5 2 (15) (2)
Proceeds from sale of marketable securities - 21 - 80 -
Investments newbuildings under construction and vessels (52) (45) (13) (38) (90)
Investments in intangibles and equipment (0) (0) (0) (1) (3)
Proceeds of repayment on shareholders loans 2 2 1 2 2
Net cash flow from/(used in) investing activities (50) (23) (13) 43 (91)
Proceeds from borrowings 108 21 5 - 19
Repayment of borrowings (30) - - - -
Interest paid (2) (2) (2) (2) (2)
Other financing activities (8) (7) (0) (0) (4)
Net cash flow from/(used in) financing activities 67 12 2 (3) 12
TOTAL CASH FLOW 16 (6) (8) 26 (82)
11. Status of FSRU newbuilding programme and new contracts
11
Vessel / Hull Customer Status Construction Delivery
PGN FSRU Lampung PGN, Indonesia Delivered April
Independence KN, Lithuania Delivered May
Höegh Gallant LOI/TS with Egas Under construction 95% August 2014
2551 On offer in tenders Under construction 38% March 2015
12. 12
Perusahaan Gas Negara project
The Tower Yoke Moring System (TYMS) installed on site in Lampung
PGN FSRU Lampung delivered from yard and connected to the TYMS
Project on budget and schedule to commence operation in June 2014
13. 13
Klaipedos Nafta FSRU project
Independence delivered from yard
Terminal on schedule to commence
operations no later than end 2014
Jetty and pipeline (Client’s scope) on
schedule for completion during 3Q
2014
Pursuing interim employment for
Independence in short term market
Klaipedos Nafta reports that LNG
supplier has been selected
14. 14
Letter of Intent / Term Sheet with Egas of Egypt
Letter of Intent/Term Sheet signed with Egyptian
Natural Gas Holding Company (Egas) for a 5 year
FSRU contract
LNG to be used to cover natural gas deficit in power
sector
Basis Höegh Gallant which will sail directly from
yard to site
FSRU to be located at Ain Sokhna port on the Red
Sea
Average annual EBIDA of around USD 40 million
Operations scheduled to commence in 3Q 2014
Term Sheet subject to negotiation of Time Charter
Agreement, board approval and approval of the
Egyptian competent authorities
15. Egypt’s Natural Gas Transmission & Distribution
15
0
10
20
30
40
50
60
Billioncubicmeters
Development of Natural Gas
Quantities Distribution (1997-2012)
Export
Local
Source: Egyptian Natural Gas Co.
Consumption of natural gas has
doubled in 10 years
Natural gas is used for power
generation (58%), commercial
sector (20%), Industrial sector
(12%) and petrochemical
industry (10%)
Volumes available for export to
Jordan (pipeline) and for
Damietta LNG facility have
declined
LNG imports will cover local
demand for natural gas in peak
season
16. 16
Near-term FSRU opportunities for FSRU#4 and additional newbuildings
Project
Pre-
qualified
Bid Selection
Contract
award
Start-up
Columbia 2014 2014 2015
Lebanon 2014 2014 2016
India 2015 2015 2017
Port Meridian Exclusive 2014-2015 2017-2018
Chile 2 2014 2015 2017
Chile/Colbun 2014-2015 2017
17. Höegh FLNG Ltd.
17
Awarded pre-FEED contract to one major shipyard and one major EPC contractor for
initial design of Höegh LNG’s proprietary FLNG Barge
Initial results of pre-FEED confirm Company’s expectations on competitive cost level
and schedule to first gas
Signed Letter of Intent with non-disclosed North American barge FLNG project
Re-evaluating current capitalization plan for Höegh FLNG
21. Asia LNG demand growth – expectations continue to rise
21
Source: BG Group
22. Worldwide LNG import outlook
Significant growth in the use of FSRUs over the last 5-6 years
Average growth in peak regasification volume is 70% per year
22
23. LNG imports to Argentina and Brazil have grown with approx. 180% from
2010 - 2013
23
Brazil has a sudden severe drought and thus not enough hydro for electricity
production
Argentina disregarded their E&P investments and therefore do not have enough gas
1,3
3,2
3,8
4,9
2,0
0,6
2,5
4,4
0%
10%
20%
30%
40%
50%
60%
70%
80%
0
1
2
3
4
5
6
2010 2011 2012 2013
MTPA
LNG imports - Argentina LNG imports - Brazil
FSRU utilisation - Argentina FSRU utilisation - Brazil
Source: IGU World LNG Report
24. 24
Around 30 projects in pipeline
16 projects in Asia/Middle East
6 projects in the Americas
7 projects in Europe/Africa
Owner FSRUs
(oper+constr)
Customers*
Höegh LNG 4+2 GDF Suez (2),
Perusahaan Gas Negara,
Klaipedos Nafta, Egas
Golar LNG 5+2 Petrobras (2), Pertamina,
Dubai Power Authority,
Jordanian Energy Ministry,
Kuwait Oil Corporation
Excelerate 9 YPF (2), Petrobras,
PREPA, Israel Electric
Corporation
OLT 1+0 E.ON, IREN (also owners)
MOL 0+1 GDF Suez /Marubeni
BW Gas 0+2 N/A
* Projects in operation or awarded
Existing
Under construction / awarded
Potential
FSRU market outlook
25. 25
FLNG Projects under construction
Main sponsor Country Technical solution
Shell Australia Offshore FLNG
Petronas Malaysia Offshore FLNG
Petronas Malaysia Offshore FLNG
Pacific
Rubiales/Exmar
Colombia Barge FLNG
Existing
Under construction / awarded
Potential for HLNG Barge FLNG
FLNG market outlook
26. Global LNG fleet overview
19 FSRUs in fleet
7 FSRU newbuildings on order
377 LNG carriers in fleet
114 newbuildings on order (30%)
26
Type Delivered
Newbuildings
on order
Under
conversion
Total
LNGC 377 114 - 491
FLNG - 4 - 4
FSRU 19 7 - 26
Total 396 125 - 521
LNG carrier fleet FSRU fleet
(Source: Platou)
27. 27
Corporate strategy
Further expansion
With 3 of 4 FSRUs under contract, considering options for further expansion
Expansion will be in the following order of priority: 1) FSRU 2) FLNG 3) LNGC
All three Korean shipyards have confirmed that they still have available
slots in 2017, and plenty available slots in 2018
Dividend policy
Company in the process of formulating a dividend strategy
Expects first pay out during the first half 2015
Details of the dividend strategy will be communicated to the market in the
second half of 2014
29. Summary
29
PGN FSRU project on schedule to start operations in June 2014
KN FSRU project on schedule for start up by end of the year – interim
employment being pursued for Independence
Term Sheet signed with Egas for a 5 year FSRU contract - Höegh Gallant to be
employed for the project
Firming up price and schedule on proprietary FLNG Barge. Signed a Letter of
Intent with non-disclosed North American barge FLNG project
Dividend strategy under development with expected first payout in first half 2015
Evaluating strategy for next phase of FSRU expansion