Avenir LNG Ltd. is to receive $182m from Stolt-Nielsen Limited, Golar LNG Ltd and Höegh LNG Holdings Ltd. in order 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.

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. 

For more information visit: www.stolt.com

1st October 2018

1st October 2018