Stolt-Nielsen and NYK Line enter joint venture for Avenir LNG

Stolt-Nielsen Gas has entered a share purchase agreement to sell 50 per cent of Avenir LNG to Nippon Yusen Kabushiki Kaisha. This transaction aims to expand small-scale liquefied natural gas bunkering opportunities through a new joint venture, Stolt-Nielsen said.

Established in 2017, Avenir LNG operates a worldwide fleet of bunker vessels. The partnership is, "expected to add value to Avenir LNG, its customers, and our shareholders", the company stated.

Chief Executive Officer of Stolt-Nielsen Udo Lange highlighted that the venture develops a long-standing partnership with NYK Line. Lange noted that the shipping and logistics experience of the partner firm is essential to supporting the supply position of the business.