The HiLoad idea first arose about 15 years ago. The idea came from a company called Remora and consisted of providing a highly simplified cargo transfer solution oil tankers and LNG carriers. In 2005, the technology was divided between transfer of oil, by Remora AS and transfer of liquefied natural gas, by the new company called TORP LNG.
TORP LNG was acquired by Sevan Marine in 2014 and its subsidiary HiLoad LNG was established. Teekay Corporation holds a 40 percent stake in Sevan Marine ASA and bought a 49.9% stake in Remora AS in late 2012.