Stolt-Nielsen and NYK Line form strategic joint venture in Avenir LNG [Yahoo! Finance]
NIPPON YUSEN KBSHKI S/ADR (NPNYY)
NASDAQ:AMEX Investor Relations:
nyk.com/english/ir
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Source: Yahoo! Finance
today announced that it has entered into a share purchase agreement to sell 50% of Avenir LNG Limited (Avenir LNG) to Nippon Yusen Kabushiki Kaisha (NYK Line). Avenir LNG was founded in 2017 and has grown into a leading player in the liquefied natural gas (LNG) bunkering sector, operating a global fleet of LNG bunker vessels. With this 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. 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. This new joint venture in Avenir LNG underscores the commitment of Stolt-Nielsen and NYK Line to sustainable energy solutions for the maritime industry. Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, said: “By entering
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