Stolt-Nielsen to sell 50% of Avenir LNG to NYK Line

Photo: Stolt-Nielsen

Stolt-Nielsen Limited reports that, through its subsidiary Stolt-Nielsen Gas, it has entered into a share purchase agreement to sell 50% of Avenir LNG Limited to Nippon Yusen Kabushiki Kaisha (NYK Line).

Founded in 2017, Avenir LNG has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels.

Stolt-Nielsen says that, with this partnership, the two companies will expand their future opportunities in LNG bunkering and small-scale LNG operations supporting the global transition to LNG and bio-LNG for marine fuel and other industrial applications.

“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,” said Stolt-Nielsen CEO Ude Lange. “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.”

“NYK has long built a strong relationship with Stolt Nielsen in the chemical tanker business,” said Hironobu Watanabe, chief executive of NYK Line’s energy division at NYK Line. “With this foundation of trust and proven partnership, we are very pleased to establish a new joint venture through Avenir LNG. As the maritime industry accelerates its efforts toward decarbonization, LNG and bio-LNG fuel have become more essential and play apractical role in supporting a sustainable energy transition. Through this new partnership, we are confident that Avenir LNG will be well positioned to meet the growing demands of the market and deliver enhanced value to the supply-chain. We will continue to develop our partnership with Stolt Nielsen while advancing our initiatives in LNG and bio LNG bunkering, contributing to a more sustainable future for the maritime industry.”

“We are very pleased to welcome NYK Line as a strategic partner in Avenir LNG alongside Stolt-Nielsen,” said Jonathan Quinn, managing director of Avenir LNG. “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. NYK Line’s global reach and operational expertise will enhance our ability to develop the business, accelerate the development of LNG bunkering solutions, and support our customers’ decarbonisation strategies as the market continues to mature.”

Completion of the transaction is expected to occur in the middle of 2026, subject to customary approvals, including regulatory approvals.