A floating storage and regasification unit controlled by Hoegh LNG Holdings has been snapped up by energy major BP to work as a trading vessel.

LNG market players have widely reported that the 170,000 cubic metre capacity Hoegh Giant has been fixed at a rate of about $300,000 per day for a period until March.

They indicated that the 2017-built vessel would likely be used by BP to give it cover over the northern hemisphere winter period before going on hire to an upcoming regasification project in 2023.