Consolidation reshapes small-scale LNG in 2025

In 2025, small-scale LNG business shifted on several fronts, as ownership structures changed, new bunker tonnage entered construction and ferry operators moved towards bioLNG.

On the European bunkering side, Molgas Energy Group completed the full acquisition of the parent company of Titan Clean Fuels, bringing Titan Clean Fuels’ marine LNG bunkering into a single downstream LNG and bioLNG business. The combined platform brings together ship-to-ship and truck-to-ship supply in Norway and continental Europe.

Post-integration, Molgas reported a fleet of seven LNG bunker vessels and more than 70 owned road-fuelling stations, supported by over 200 points of sale, presented as a pan-European offer to industrial, road transport and marine customers. Molgas chief executive Sofoklis Papanikolaou said earlier collaboration with Titan had laid the groundwork for the transaction, and described Titan as a pioneer in LNG bunkering.

Ownership changes around Avenir LNG framed another strand of consolidation after Stolt-Nielsen Gas agreed to acquire the shares in Avenir LNG held by another founding shareholder for approximately US$40M, with completion expected in Q1 2025, while the seller retained its interest in an LNG storage terminal through a separate vehicle.

Stolt-Nielsen Gas later initiated a compulsory share acquisition for the remaining 5% stake in Avenir LNG and said its more than 95% holding allowed it to proceed with this action and issue notice to minority shareholders. The fleet underpinning that strategy continued to grow: in July 2025, it was reported that construction had started in China on a fifth 20,000-m³ LNG bunker vessel for Avenir LNG, the first ship in a second two-vessel order from the same yard.

Avenir LNG said the vessel is destined for a seven-year charter with a European energy trading company, with optional extensions, and listed delivery in 2026, while the sixth vessel in the series is scheduled for 2027.