Avenir LNG Limited has entered into a significant long-term partnership with ExxonMobil’s marine transportation affiliate, SeaRiver Maritime, LLC. Under this agreement, Avenir will provide its second newbuild 20,000-cubic-meter LNG bunker vessel on a Time Charter Party (TCP), marking a major milestone in both companies’ efforts to advance cleaner marine fuel solutions. The multi-year charter will commence in the first quarter of 2027 and is expected to bring financial stability and growth opportunities for Avenir LNG.
Strengthening the LNG Bunkering Market
The new agreement reflects Avenir LNG’s ongoing commitment to expanding its role in the global LNG and bio-LNG market. By securing a long-term charter with ExxonMobil, Avenir effectively mitigates commercial risks associated with its 2024 newbuilding program while ensuring sustainable cash flow. This partnership enables Avenir to support the global shift toward lower-emission marine fuels and reinforces its position as a key supplier in the small-scale LNG segment.
ExxonMobil’s Move Toward Cleaner Marine Fuels
For ExxonMobil, this partnership marks its strategic entry into the LNG marine bunkering sector, broadening its marine fuel portfolio. By collaborating with Avenir LNG, ExxonMobil aims to meet growing customer demand for low-emission fuels such as LNG and bio-LNG. The initiative aligns with the company’s broader sustainability goals, emphasizing its commitment to helping the maritime industry transition toward environmentally responsible energy sources.
The partnership between Avenir LNG and ExxonMobil represents a forward-looking step for the global marine fuel industry. Combining Avenir’s expertise in LNG logistics with ExxonMobil’s vast operational scale and integration capabilities, the collaboration is set to play a pivotal role in advancing cleaner, more sustainable fuel solutions for maritime operations worldwide. As the industry moves toward decarbonization, such alliances highlight the importance of innovation and cooperation in shaping the future of marine energy.
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Source: PORT NEWS
