LNG

Avenir LNG, a company owned by Norwegian shipping and infrastructure companies, is making progress on the development of Italy’s first small-scale terminal at the Port of Oristano on the Mediterranean island of Sardinia.

Avenir LNG, a small-scale niche market joint venture involving Stolt-Nielsen Ltd, the shipping and storage group and its Norwegian peers, Hoegh LNG and Golar LNG, is now registered on the Oslo over-the-counter market after holding a private share placement.

Stolt-Nielsen Ltd, the Norwegian-listed shipping and storage group, said it had joined with Norwegian peer companies Golar and Hoegh in a combined investment commitment of $182 million in a project in the small-scale market called Avenir LNG.