Norway's Hoegh LNG wins 20-year Colombian contract from SPEC
OSLO Nov 3 (Reuters) - Norwegian liquefied natural gas shipper Hoegh LNG won a 20-year contract to operate a regasification unit in Colombia from mid-2016, it said on Monday.
The floating storage regasification unit contract from Sociedad Portuaria El Cayao S.A. E.S.P. is expected to generate annual earnings before interest, taxes, depreciation and amortisation of $40 million to $45 million, depending on the terms of the contract.
Although the contract is for 20 years, SPEC will have an option to reduce it to five, 10 or 15 years, Hoegh said. (Reporting by Balazs Koranyi, editing by Terje Solsvik)
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