Sveinung Støhle is to step down as chief executive officer of Bermuda-based Höegh LNG Partners LP after 16 years with the company.

The floating liquefied natural gas service provider said that Mr Støhle will remain in his position until November 1.

He is also forgoing his role as president and CEO of Höegh LNG Holdings Ltd after building the company into the world’s largest operator of floating storage and regasification units.

The organisation said that its board of directors is undertaking a process to select a successor for the CEO position, and has appointed Håvard Furu, the partnership's chief financial officer, to also act as the partnership's interim chief executive officer while it conducts the search.

The board of directors of Höegh LNG has appointed Thor Jørgen Guttormsen as interim president and CEO.