Business Sectors
Events
Contents
Stolt-Nielsen share offer targets full control of Avenir LNG
With a 95% stake after buying out Golar LNG’s shares in Avenir, Stolt-Nielsen has launched a compulsory acquisition action
Norwegian shipowning and maritime operations conglomerate Stolt-Nielsen Gas, part of the Stolt-Nielsen group, has initiated a compulsory share acquisition for the remaining 5% stake in the small-scale LNG bunkering and supply vessel owner Avenir LNG.
Stolt-Nielsen founded Avenir LNG alongside partners Höegh and Golar LNG, and initiated a share-buy for Golar LNG’s stake in January 2025.
"As the holder of more than 95% of Avenir LNG’s shares, Stolt-Nielsen Gas Ltd is able to acquire the remaining shares in Avenir LNG by way of a compulsory acquisition," Stolt-Nielsen said of its latest move to consolidate full control of the company. "The board of directors of Stolt-Nielsen Gas Ltd has resolved to proceed with this compulsory acquisition, and a notice informing Avenir LNG’s shareholders of the compulsory acquisition has been issued."
The company said the per-share purchase price of US$1 it agreed in the acquisition of Golar LNG’s share of Avenir LNG would be the same for the compulsory acquisition action.
Shareholders of Avenir LNG have the option to apply to the Supreme Court of Bermuda for an independent appraisal of the value of Avenir LNG shares during a one-month period between 11 March 2025 and 11 April 2025. Stolt-Nielsen said it expected the share buy to close on 16 April 2025 and would seek to delist Avenir LNG from the Euronext stock exchange, taking the company private.
In February 2025, Bermuda-based Golar LNG sold its final LNG carrier, exiting the segment after selling Avenir, the company it cofounded, to Stolt-Nielsen Gas for approximately US$40M.
Golar is retaining its 25% stake and debt-holdings in the Avenir LNG spin-off company, Higas, that is the asset-holder for the HIGAS LNG storage terminal in Sardinia, Italy. Higas was spun off from Avenir LNG in October 2024.
At the time, Golar chief executive Karl-Fredrik Staubo commented, “The sale of Golar’s shareholding in Avenir LNG is in line with our strategy to focus on expanding our market-leading FLNG position. Golar is proud to have founded Avenir LNG into one of the largest small-scale LNG shipping companies globally alongside our partners Stolt Nielsen and Höegh. Following the sale of Hygo Energy Transition Ltd in 2021, our Avenir LNG investment was no longer deemed a core asset of Golar’s portfolio. We wish the Avenir LNG team and Stolt-Nielsen all the best for the future development of Avenir.”
In early October 2024, Avenir LNG launched a plan to raise US$50M and list on the Euronext Growth Oslo stock exchange, while divesting from the HIGAS LNG terminal. At the time, Avenir LNG managing director Jonathan Quinn said the company’s strategic shift was based on a maritime market shift toward LNG as a fuel.
“With the LNG-fuelled fleet set to grow in the coming years, the demand for bunker vessels is expected to rise. This is the right time for Avenir to refocus its strategy on shipping and trading. The divestment from HIGAS will enhance our position as a leading owner of LNG bunker vessels and allow us to streamline our operations to better align with market opportunities,” he said.
As of end October 2024, the book value of HIGAS was US$40.5M (on a 100% basis), of which US$24.7M was shareholder loans and US$15.8M shareholder equity.
Sign up for Riviera’s series of technical and operational webinars and conferences:
- Register to attend by visiting our events page.
- Watch recordings from all of our webinars in the webinar library.
Related to this Story
Events
Maritime Decarbonisation, Europe: Conference, Awards & Exhibition 2025
30 Sep 2025
Amsterdam
Offshore Support Journal Conference, Americas 2025
07 Oct 2025Rio de Janeiro
LNG Shipping & Terminals Conference 2025
21 Oct 2025LONDON
© 2024 Riviera Maritime Media Ltd.
