Ghana set to sign gas agreement
According to CNBC, Ghana’s President is due to sign a gas purchase agreement this week. This leads us to believe that an FID on import infrastructure might be imminent, which we believe could be a catalyst for Höegh LNG’s FSRU 7 in Ghana. Based on our forecast of 1–2 awards per year, we believe we could see a new award soon as eight months have passed since the last award. The Q2 results are due out at 07:00 CET on 24 August, and we are above consensus net profit. We reiterate our BUY recommendation but have lowered our target price to NOK112 (NOK115).
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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