Ashurst advises SPEC on entry into contracts with Höegh LNG for leasing, operation and maintenance of LNG FSRU in Cartagena, Colombia

Ashurst advised Sociedad Portuaria El Cayao S.A. E.S.P. (SPEC) in relation to its agreements with Höegh LNG for the leasing, operation and maintenance of a 170,000 m3 Floating Storage and Regasification Unit (FSRU) for a new LNG import terminal in Cartagena on the Atlantic coast of Colombia.

The Ashurst team was led by energy partner Philip Thomson and included energy partner Michael Burns, tax partner Richard Palmer, senior associates Julia Derrick and Jessica Neuberger and associates Letitia Bryan and Josh Cornally.

Partner Philip Thomson commented:

"We are delighted to have worked with SPEC to help deliver this project.  The project increases the diversity of Colombia's fuel mix and creates a new market for the LNG industry. It is the most recent of several LNG FSRU projects on which our global team has worked".