Oslo-listed Stolt-Nielsen Limited, through its subsidiary Stolt-Nielsen Gas Ltd., has entered into a share purchase agreement to sell 50% of Avenir LNG Limited (Avenir LNG) to Japanese shipping major Nippon Yusen Kabushiki Kaisha (NYK Line).

Founded in 2017, Avenir LNG is an owner and operator of small-scale LNG carriers and LNG bunker vessels.

Through the joint venture, Stolt-Nielsen and NYK Line will expand their future small-scale LNG and LNG bunkering opportunities.

Financial terms were not disclosed. The partners say LNG is “rapidly being adopted as a practical and scalable fuel.”

The completion of the transaction is expected to occur in the middle of 2026, subject to customary approvals, including regulatory approvals.

“As the maritime industry accelerates its efforts toward decarbonisation, LNG and bio-LNG fuel has become more essential and practical role in supporting a sustainable energy transition. Through this new partnership, we are confident that Avenir LNG will be well positioned to meet the growing demands of the market and deliver enhanced value to the supply chain. We will continue to develop our partnership with Stolt‑Nielsen while advancing our initiatives in LNG and bio‑LNG bunkering, contributing to a more sustainable future for the maritime industry,” said Hironobu Watanabe, managing executive officer of NYK Line.

Udo Lange, chief executive officer of Stolt-Nielsen Limited, added: “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.”