Avenir LNG becomes sole owner of Sardinian small-scale terminal

Small-scale player Avenir LNG is now the sole owner of the Higas terminal located on the Italian island of Sardinia, following a deal with partners CPL Concordia and Gas and Heat.

London-based Avenir, the joint venture consisting of Stolt-Nielsen, Hoegh and Golar, said in a statement on Tuesday it bought 10 percent stake in Higas each from Italian engineering firm Gas and Heat and CPL Concordia.

Gas and Heat was also the EPC contractor for the Higas storage, regasification and distribution facility in the port of Oristano that received its first shipment from the 7,500-cbm Avenir Accolade in May last year.

In January this year, Avenir’s 7,500-cbm bunkering and supply vessel, Avenir Aspiration, started serving the terminal in Sardinia.

Avenir previously held an 80 percent operating stake in the facility that features six horizontal low-pressure cryogenic type C tank storage tanks with a total capacity of 10,800 cbm.

The firm did not disclose the financial details of the deal.

“Important step”

“We are delighted to have signed this agreement to acquire the minority shareholders’ interests in Higas, thereby concluding the joint venture which delivered the construction of the first LNG import infrastructure in Sardinia,” Peter Mackey, CEO of Avenir, said:

He said this marks another “important step” in executing the company’s investment strategy.

“In addition to continuing to be a trusted and competitive LNG supplier to our customers in Sardinia, Higas will continue to promote and enhance the long-term environmental sustainability of Sardinia and Italy, and to take an increasingly prominent role in these important energy markets,” Mackey said.

Besides supplying gas for use as fuel for automotive, industrial, civil and marine industries, the Higas terminal could also get a power plant.

LNG Prime recently reported that Avenir has proposed to install a power plant at its Italian LNG terminal, as the country looks to replace Russian pipeline gas supplies.

Reports suggest that the combined-cycle power plant could have a capacity of 250 MW.

Most Popular

Venture Global LNG wraps up $2.5 billion senior notes offering

Venture Global LNG's unit, Plaquemines LNG, has closed its $2.5 billion offering of senior secured notes.

MSC orders more LNG-powered containerships in China

Switzerland-based shipping giant MSC has ordered more LNG dual-fuel vessels from China’s Hengli Heavy Industry, a part of Hengli Group, according to shipbuilding sources.

Excelerate in $700 million senior notes offering

US FSRU player Excelerate Energy aims to raise about $700 million via an offering of unsecured senior notes due 2030.

More News Like This

Stolt-Nielsen wraps up purchase of remaining Avenir LNG shares

UK-based small-scale player Avenir LNG is now fully owned by Norway's Stolt-Nielsen after the latter completed the purchase of Avenir LNG's remaining shares.

Avenir’s bunkering vessel to run on bio-LNG this year

One of Avenir LNG's small-scale bunkering and supply vessels will continuously run on bio-LNG in 2025. With this, the UK-based firm, controlled by Stolt-Nielsen, claims Avenir Ascension will become the first bunker vessel in the world to continuously run on bio-LNG.

Axpo wraps up its first STS LNG bunkering op

Switzerland’s Axpo has completed its first ship-to-ship LNG bunkering operation with its chartered vessel Avenir Aspiration. Axpo bunkered MSC's...

Stolt-Nielsen launches offer to buy remaining Avenir LNG shares

Norway's Stolt-Nielsen has launched an offer to buy remaining shares in small-scale LNG player Avenir LNG after it bought stakes from Golar LNG and Hoegh family holding company Aequitas.