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According to a statement by Avenir on Tuesday, it signed the time charter party with LNG Shipping, a 100 percent subsidiary of Eni, for the 7,500-cbm LNG bunkering vessel, Avenir Aspiration.
Avenir said the multi-year time charter to Eni will start from delivery in Europe in 2025.
The company did not provide further information regarding the charter deal.
The 2021-built Avenir Aspiration currently trades alongside its sister vessel Avenir Ascension in northwest Europe performing small-scale supply services and ship-to-ship bunkering operations as part of Avenir’s physical LNG trading division, Avenir Supply and Trading.
With this deal, Avenir said it continues to deliver on its chartering strategy which has concluded four new term charter agreements over the past 12 months across its fleet of five vessels on the water and two under construction.
This charter increases the company’s third-party charter revenue backlog, including options, to over $285 million, securing additional long-term cash flow for the group and shareholders over the next decade, it said.
Avenir also recently revealed plans to divest its ownership of the Higas LNG storage terminal in Italy’s Sardinia to three of its existing shareholders, as part of a strategic refocus of its business.
Avenir’s shareholders are Stolt-Nielsen, Golar LNG, and Hoegh Evi, previously known as Hoegh LNG.
The company is also exploring raising capital and a potential listing on the Euronext Growth Oslo.
Eni expanding activities in LNG bunkering market
With this charter agreement, Eni is expanding its activities in the LNG bunkering market.
Eni said in a separate statement the bunker vessel will supply LNG for cargo and passenger ships, which are increasingly being powered by LNG due to its lower environmental footprint compared to conventional fuels and its full compliance with the most recent standards in terms of emissions.
The Italian firm said this agreement further expands its activities in the small-scale LNG bunkering market in the Mediterranean Sea, reinforcing the company’s commitment to higher sustainability goals and the decarbonization of the maritime sector by 2050.
Also, this agreement is in line with Eni’s strategy to market its growing LNG portfolio and promote more “environmentally sustainable” fuels for shipping and transport, the company said.
