Wedoany.com Report on Mar 17th, Norway's Stolt-Nielsen Limited recently announced that its subsidiary, Stolt-Nielsen Gas Ltd., has signed an agreement with Nippon Yusen Kabushiki Kaisha (NYK Line) to sell a 50% stake in Avenir LNG Limited. Established in 2017, Avenir LNG focuses on liquefied natural gas (LNG) bunkering services and operates a global fleet of LNG bunkering vessels. This joint venture aims to expand small-scale LNG and LNG bunkering operations, supporting the shipping industry's transition to LNG and bio-LNG fuels.

Udo Lange, CEO of Stolt-Nielsen Limited, stated: "Through this joint venture, we are deepening our long-term collaboration with NYK Line and solidifying Avenir LNG's position in the small-scale LNG supply and bunkering sector. NYK's experience in shipping and logistics, combined with the growing opportunities in the LNG-fueled vessel market, will create value for Avenir LNG, its customers, and shareholders. This demonstrates our commitment to supporting sustainable energy solutions for the global shipping supply chain."

Hironobu Watanabe, Chief Executive of NYK Line's Energy Division, said: "Building on our strong relationship with Stolt-Nielsen in the chemical tanker business, we are delighted to establish this new joint venture through Avenir LNG. As the maritime industry accelerates its decarbonization efforts, LNG and bio-LNG fuels are playing an increasingly important role in the sustainable energy transition."

Jonathan Quinn, Managing Director of Avenir LNG, commented: "This joint venture brings together two complementary shipping and logistics groups with a shared vision for LNG as a marine fuel. NYK Line's global reach and operational expertise will help us grow our business, accelerate the development of LNG bunkering solutions, and support our customers' decarbonization strategies."