Stolt-Nielsen strengthens foothold in LNG bunkering market after Avenir LNG takeover

Stolt-Nielsen, a Norway-based company specializing in chemical and bulk liquid transportation and storage, has entered into a share purchase agreement to acquire all the shares of the UK-based midstream LNG & BioLNG company Avenir LNG.

As disclosed, the transaction is set to be finalized during the first quarter of 2025 via the Oslo-headquartered company’s subsidiary Stolt-Nielsen Gas.

Since its inception, Avenir LNG has been focused on supporting the marine energy transition through its five LNG bunkering vessel-strong fleet, set to be joined by a duo of newbuildings currently under construction.

The company booked two 160-meter-long 20,000 cbm units in April 2024 at China’s Nantong CIMC Sinopacific Offshore & Engineering (CIMC SOE). As informed, the newbuildings are slated for delivery in Q4 2026 and Q1 2027. 

Avenir LNG pivoted to pure-play shipping in October 2024 intending to focus on ‘efficient and sustainable’ small-scale LNG supply solutions.

To remind, Avenir LNG was jointly owned by Stolt-Nielsen Gas, the Bermuda-headquartered Golar LNG and the UK’s Aequitas Limited. At the time of the founding, the Norwegian player owned 47% of Avenir LNG. Following the completion of the recent transaction, Stolt-Nielsen Gas will control around 94.37% of the outstanding shares and votes.

Sharing his thoughts regarding the transaction, Stolt-Nielsen Chief Executive Officer Udo Lange, who took the company’s helm at the beginning of September 2023, stated: “I am very pleased to announce this increased investment in Avenir LNG. This strategic move not only strengthens our position in the LNG sector but also underscores our commitment to pursuing more sustainable energy solutions for the maritime, industrial, and power generation markets.”

Jonathan Quinn, Managing Director of Avenir LNG, added: “Today marks an exciting new chapter for Avenir LNG as we continue to execute our strategy to become the leading small-scale LNG shipping and trading company. On behalf of the entire team at Avenir LNG, I wish to extend my thanks to the founding shareholders whose support and guidance have been instrumental in positioning Avenir LNG at the forefront of the marine energy transition since we launched in October 2018.”