With reference to the previously disclosed disputes and pending arbitrations with the charterer of PGN FSRU Lampung, Höegh LNG is pleased to announce that the parties have entered into an amicable settlement by which the parties have agreed to finally and irrevocably settle all of the disputes, claims and counterclaims between the parties that gave rise to the said arbitration proceedings and agreed to terminate the arbitrations with immediate effect. The charter contract for PGN FSRU Lampung remains in full force and effect and each party will cover its own costs in relation to the terminated arbitrations.
Source: Höegh LNG