NYK Line is taking a 50% stake in Avenir LNG from Stolt-Nielsen Gas, a move that signals growing confidence in the long-term development of small-scale LNG distribution and LNG bunkering.
Stolt-Nielsen had taken full control of Avenir LNG in 2025, privatizing the company after acquiring a majority stake from Golar LNG and Aequitas. Now, by bringing in NYK as a partner, the company is repositioning Avenir as a joint venture with a broader strategic horizon.
The two groups said the partnership is intended to expand opportunities in LNG bunkering and small-scale LNG supply, supporting the continued use of LNG and bio-LNG as marine fuels and in other industrial applications.
Avenir LNG currently operates a fleet of five small-scale LNG bunkering vessels, with two additional newbuildings under construction. That footprint gives the company an established platform at a time when demand for alternative marine fuels continues to grow.
For NYK, the investment fits into a wider decarbonization strategy. The Japanese shipping group has identified LNG as a bridging fuel in the transition to lower-emission shipping and already operates several LNG-fueled vessels, including LNG carriers, dry bulk ships and the cruise ship Asuka III. The company also has existing interests in LNG bunkering and began the continuous use of bio-LNG on two car carriers in Northern Europe last year.
The market backdrop is also supportive. The partners pointed to the wave of dual-fuel vessel orders in recent years and the broader acceptance of LNG as a marine fuel with lower carbon emissions compared with conventional alternatives.
The transaction is expected to close in the middle of this year, subject to approvals.
Stolt-Nielsen CEO Udo Lange said NYK’s shipping and logistics experience, combined with the expanding market for LNG-fueled vessels, should create value for Avenir LNG, its customers and shareholders. He also framed the deal as part of Stolt-Nielsen’s broader support for sustainable energy solutions across global shipping supply chains.
Hironobu Watanabe, chief executive of NYK’s Energy Division, said LNG and bio-LNG are becoming increasingly practical and important as the maritime industry intensifies its decarbonization efforts. He said the new partnership would position Avenir LNG to meet rising demand and deliver stronger value across the supply chain.
Avenir LNG Managing Director Jonathan Quinn described the joint venture as the meeting point of two shipping and logistics groups with complementary strengths and a shared long-term view of LNG’s role in marine fuel. With NYK’s global reach and operational capabilities, he said, Avenir should be better placed to accelerate its LNG bunkering business and support customer decarbonization strategies as the market matures.
