Avenir LNG seals charter deal with Excelerate

Stolt-Nielsen’s Avenir announced the contract on Wendesday, but it did not reveal further details.

Avenir said the deal comes as part of Excelerate’s purchase of New Fortress Energy’s LNG import and power businesses in Jamaica, where the vessel is expected to remain employed.

Last year, Avenir entered into a deal to charter Avenir Accolade for a period of up to two years with NFE Transport Partners, a unit of NFE.

Before that, Avenir Accolade had been serving NFE under a bareboat contract.

Excelerate recently completed its acquisition of NFE’s business in Jamaica for $1.055 billion.

Under the terms of the purchase agreement, Excelerate has acquired the assets and operations of the Montego Bay LNG terminal, the Old Harbour LNG terminal, and the 150 MW Clarendon combined heat and power plant.

Excelerate raised about $1 billion in equity and debt financings to fund the acquisition.

On the other hand, Avenir is now fully owned by Norway’s Stolt-Nielsen, following the latter’s recent acquisition of Avenir’s remaining shares.

Prior to that, Stolt-Nielsen bought Avenir stakes from Golar LNG and Hoegh family holding company Aequitas.

Avenir has a fleet of five vessels on the water and two under construction.