Tank Storage Opportunities Worldwide

Latest News
View News Articles
Search News Articles
Submit an Article
Newsletter Archive
Get RSS Feed


Stolt-Nielsen, Golar LNG and Höegh Announce Joint $182m Investment in Avenir LNG

October 08, 2018 [Tank News International] - Stolt-Nielsen Limited, Golar LNG Ltd and Höegh LNG Holdings Ltd. have announced a combined investment commitment of $182m in Avenir LNG Ltd. to pursue opportunities to deliver LNG to areas of stranded demand, as well as the development of LNG bunkering capabilities.

The investment will be contributed as cash and equity-in-kind and will fund the construction of six small-scale LNG carriers, a small-scale storage terminal and regasification facilities.

Avenir LNG was formed by Stolt-Nielsen in 2017 to provide LNG to markets lacking access to natural gas pipelines. With this joint investment, Stolt-Nielsen will consolidate all its LNG activities into Avenir, including four LNG new buildings on order at Keppel Singmarine in Nantong, China and the joint-venture LNG terminal and distribution facility to be constructed in the port of Oristano, Sardinia.

Avenir plans to source and ship LNG to the terminal using small LNG carriers, and to distribute the LNG in trucks and through regasification into local network grids. In addition, Avenir plans to order two further small-scale LNG carriers.

Commenting on the transaction, Niels G. Stolt-Nielsen, Chief Executive Officer of Stolt-Nielsen Limited, said: “The combination of Stolt-Nielsen’s logistics capabilities and our partners’ experience in LNG carriers, FSRUs and FLNGs positions Avenir as an emerging leader in small-scale LNG logistics for the power, bunkering, trucking and industrials markets. With the implementation of the IMO’s 2020 emissions regulations approaching, demand for LNG as a cleaner, low-sulphur marine fuel is increasing. Each of the LNG newbuildings is designed to perform safe and efficient ship-to-ship LNG bunkering, which Avenir LNG plans to introduce at key strategic ports.

Stolt-Nielsen Limited remains the largest shareholder of Avenir LNG Ltd with ownership of 50%. Golar LNG Ltd and Höegh LNG Holdings Ltd. each hold a 25% share. Subsequent to the initial capital raised, Avenir LNG intends to raise an additional $10m through strategic investors, with plans to register on the NOTC before the end of 2018.


TankTerminals.com - Research, Market and Expand Your Presence within the Tank Storage Industry.

Learn more.



Article contains 294 words
Added to TankTerminals.com on: Monday, October 08, 2018 by Tank News International.
<< News  

Conditions of Use  |  Privacy  |  Cancellation Policy  |  Contact Us  | Terminal Operator Login  |  © 2018 TankTerminals.com. All rights reserved.