News
Stolt‑Nielsen sells 50% of Avenir LNG to NYK to boost global LNG bnkering growth
Stolt-Nielsen, through its subsidiary Stolt-Nielsen Gas, has entered into a share purchase agreement to sell 50% of Avenir LNG to Nippon Yusen Kabushiki Kaisha.
Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.
With this partnership, Stolt-Nielsen and NYK Line will expand their future small-scale LNG and LNG bunkering opportunities through the joint venture, supporting the global transition to LNG and bio-LNG for marine fuel and other industrial applications.
Following a wave of dual-fuel LNG vessel orders in recent years, LNG is rapidly being adopted as a practical and scalable fuel that enables shipping to achieve emissions reductions.
Udo Lange, chief executive officer of Stolt-Nielsen, said: “By entering into this joint venture, we are developing our long-standing partnership with NYK Line and supporting Avenir LNG’s position in small-scale LNG supply and bunkering.
“NYK’s experience in shipping and logistics, together with potential market opportunities arising from the continued expansion of LNG-fueled vessels, is expected to add value to Avenir LNG, its customers and our shareholders.
“This transaction also reflects Stolt-Nielsen’s commitment to supporting sustainable energy solutions across global shipping supply chains by facilitating safe and reliable access to LNG fuel.”
Hironobu Watanabe, chief executive of energy division at NYK Line, said: “NYK has long built a strong relationship with Stolt Nielsen in the chemical tanker business. With this foundation of trust and proven partnership, and we are very pleased to establish a new joint venture through Avenir LNG.”
Jonathan Quinn, managing director of Avenir LNG, said: “We are very pleased to welcome NYK Line as a strategic partner in Avenir LNG alongside Stolt-Nielsen. This joint venture brings together two highly respected shipping and logistics groups with complementary strengths and a shared long-term vision for LNG as a marine fuel.”