Norwegian shipping firm Stolt-Nielsen is set to strengthen its footprint in the LNG bunkering market with its acquisition of UK-based Avenir LNG.
Stolt-Nielsen to acquire Avenir LNG
Stolt-Nielsen has announced that it has entered into a share agreement to acquire all the shares of Avenir LNG owned by Golar LNG and Aequitas.
The buyout is expected to be finalized in the first quarter of 2025, pending the fulfilment of conditions outlined in the share purchase agreement, Avenir LNG said in a statement on its website on Tuesday.
Once completed, Stolt-Nielsen will own around 94.37% of the outstanding shares and voting rights in Avenir LNG.
Avenir LNG has been a prominent LNG bunker supplier, with a fleet of five LNG bunkering vessels, some of which are currently chartered out.
Additionally, two more LNG bunkering vessels are set to be delivered by 2027.
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Source: Stolt Nielsen
