Stolt-Nielsen, through its subsidiary Stolt-Nielsen Gas, announced on Monday that it has entered into a share purchase agreement to sell the stake to NYK.
The firm did not provide the pricing details of the deal.
Completion of the transaction is expected to occur in the middle of 2026, subject to customary approvals, including regulatory approvals.
Stolt-Nielsen launched an offer in March 2025 to buy Avenir LNG’s remaining shares after it bought stakes from Golar LNG and Hoegh family holding company Aequitas.
In January this year, Stolt-Nielsen confirmed that it was in discussions with a strategic buyer to sell up to 50 percent of its interest in Avenir LNG.
NYK and Stolt Nielsen already have a long-term relationship in the chemical tanker business.
With this new partnership, Stolt-Nielsen and NYK Line “will expand their future small-scale LNG and LNG bunkering opportunities through the joint venture, supporting the global transition to LNG and bio-LNG for marine fuel and other industrial applications,” the statement said.
Following a wave of dual-fuel LNG vessel orders in recent years, LNG is “rapidly being adopted as a practical and scalable fuel that enables shipping to achieve emissions reductions,” Stolt-Nielsen said.
“By entering into this joint venture, we are developing our long-standing partnership with NYK Line and supporting Avenir LNG’s position in small-scale LNG supply and bunkering. NYK’s experience in shipping and logistics, together with potential market opportunities arising from the continued expansion of LNG-fueled vessels, is expected to add value to Avenir LNG, its customers, and our shareholders,” Udo Lange, CEO of Stolt-Nielsen, said.
Seven vessels
Avenir LNG owns and operates a fleet of five modern small-scale LNG bunkering vessels, with two newbuildings under construction.
In December last year, Avenir LNG completed financing for two LNG bunkering newbuilds.
Avenir LNG ordered two 20,000-cbm LNG bunkering and supply vessels at China’s Nantong CIMC Sinopacific Offshore & Engineering in 2024.
CIMC SOE officially started building the 20,000-cbm vessel (Hull No. S1123) in July last year.
The ship (Hull No. S1123) is the first in this batch of two.
The vessel will serve Vitol under a charter deal for seven years with options to extend up to 10 years in total.
It will be delivered in the fourth quarter of 2026, while its sister vessel will be delivered in the first quarter of 2027.
In October last year, Avenir also signed a time charter party with SeaRiver Maritime, the marine transportation affiliate of ExxonMobil, for the second vessel in this batch.
