LNG

Avenir LNG’s dual-purpose bunkering and supply vessel the 7,500 cubic metres capacity “Avenir Aspiration” has again called at the Higas terminal located on the Italian island of Sardinia as the start of commercial operations progress.

The Higas facility is a small-scale LNG import, storage and distribution facility in the port of Oristano in Sardinia.

Avenir LNG holds 80 percent of the equity in Higas and is working with established local partners Gas & Heat and CPL Concordia who each hold a 10 percent stake in the facility.

The “Avenir Aspiration” discharged the cargo and has now departed and was heading for Spain, according to shipping data.

The Higas terminal includes a jetty capable of receiving LNG vessels up to 20,000 cubic metres of capacity, an unloading arm, six horizontal cryogenic holding tanks of 1,500 cubic metres capacity each, two LNG truck-loading bays and a natural gas power generation system.

It has already started the sales and distribution of LNG truckloads to a number of customers.

Avenir itself is a joint venture owned by London-based Stolt-Nielsen and partners Höegh LNG and Golar LNG Ltd. The company's activities include building a fleet of small-scale LNG carriers.

Charter

Avenir LNG at the end of December 2021 announced it would charter one of its small-scale LNG carriers to Shell after it is delivered from a Chinese shipyard in 2022.

Avenir said it had entered into a Time Charter Party (TCP) with Shell North America LLC for the “Avenir Achievement”, a newbuild with 20,000 cubic metres capacity.

The supply vessel is expected to be delivered to Avenir in the second quarter of 2022 and the time charter to Shell is expected to begin at the start of 2023 for a period of three years and with an option to extend for up to five years.

This charter, including options, increases Avenir’s overall vessel charter revenues backlog to $81.0 million as of December 2021.

Avenir noted that the small carrier is equipped with boil-off gas reliquefication and simultaneous operations (SIMOPs) capabilities, “making her the world’s largest, most efficient and versatile LNG bunkering vessel” available.

The Norwegian small-scale LNG business of Stolt-Nielsen and partners Höegh LNG and Golar LNG has taken delivery of another gas supply and bunkering vessel (LBV) from the Keppel Offshore and Marine shipyard in the Chinese port of Nantong.

The Nordic joint venture called Avenir LNG has named its second 7,500 cubic metres capacity dual-purpose LBV, the “Avenir Accolade”, and it is now available.

The company said the “Avenir Accolade” would enter a three-year bareboat charter to LNG Power Limited, a subsidiary of Hygo Energy Transition to support Hygo’s developments in northeast Brazil.

This is the Avenir joint venture’s first entry into the Latin American LNG market.

Stolt-Nielsen, whose headquarters are in London, started up the small-scale LNG sector firm Avenir in 2015 and its two main investors, Golar and Höegh, each have 22.5 percent of Avenir.

The company said that the “Avenir Accolade” would soon be delivering LNG to Hygo’s customers along the Brazilian coastline.

“Fitted with specialised LNG handling equipment, she will be capable of unloading LNG directly into trucks for onward distribution across Brazil,” said Avenir.

The Hygo company was formerly known as Golar Power and is being acquired by New York-Based New Fortress Energy.

In addition to the growing small-scale LNG fleet, Avenir has an 80 percent stake in a small-scale LNG import project on the Italian island of Sardinia and set to start up soon.

Peter Mackey, Chief Executive of Avenir, said the company strategy was progressing on schedule.

“This is a transformational year for Avenir LNG as we commission our onshore LNG terminal in Sardinia in the coming weeks and continue to expand our fleet with the addition of four more newbuild vessels by year-end,” Mackey explained.

Avenir’s largest bunkering vessel, the “Avenir Allegiance” with 20,000 cubic metres capacity, entered the water in January 2021 at the Zhoushan Changhong Sinopacific shipyard in China’s eastern Zheijang province.

That vessel is scheduled to be delivered from the yard in the third quarter of 2021 and will join the Avenir fleet as the world’s largest LNG bunkering vessel.

Avenir’s first newbuild delivery, the “Avenir Advantage”, took place in October 2020 and has now been followed by the “Avenir Accolade” with other newbuilds, including one named the “Avenir Allegiance”, lined up for delivery during 2021.