London, May 30, 2022 – Avenir LNG Limited (NOTC:AVENIR) announces the delivery of the Avenir Achievement, the second 20,000 cbm dual-purpose, liquefied natural gas supply and bunkering vessel (LBV) delivered from Nantong CIMC Sinopacific Offshore & Engineering Co. (“SOE”). The Avenir Achievement is the sixth vessel to be delivered into the Avenir fleet.
The vessel will be equipped with BOG reliquefication and simultaneous operations (SIMOPs) capabilities, making her the world’s largest, most efficient and versatile LNG Bunker Supply Vessel.
From delivery the vessel will initially be employed on a 6 month Time Charter Party (“TCP”) with New Fortress Energy, before commencing a 3 year TCP with Shell NA LNG (“Shell”) to begin in Q1 2023. The TCP with Shell has the option to be extended up to 5 years.
Peter Mackey, CEO Avenir LNG Limited, commented:
“We are delighted to see the delivery of the Avenir Achievement and the completion of Avenir’s phase 1 newbuilding programme. This has been an enormous joint effort from the ship yard and Avenir team through a challenging period over the past three years.
This is yet another important milestone for Avenir as we successfully conclude our initial asset development programme, having brought 6 newbuild vessels and our small-scale terminal in Sardinia into service over the past 18 months.
We continue to see enormous growth potential in the small-scale LNG segment and we expect to announce our phase-2 growth programme in the second half of 2022, bringing additional small-scale LNG terminals and vessels into the market.
Our global presence has expanded rapidly with Avenir assets / Partnerships now operating in China, Malaysia, the Mediterranean, Baltic sea and Caribbean. I am enormously proud of what the Avenir team has achieved in such a short period of time, especially given the global environment in the last 24 months.
Avenir has an enormously bright future as we continue to build the company into the leading small-scale LNG supplier globally.”
About Avenir LNG Limited: Avenir LNG supplies small-scale LNG to off-grid industry, power generation and transport fuel sectors as well as providing infrastructure to support the development of LNG as a marine fuel. Avenir LNG has quickly become one of the leading providers of small-scale LNG solutions; working with local partners and end users to develop the infrastructure necessary to unlock new markets for natural gas.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
