Stolt-nielsen — M&A Activity 2026

Mar 16, 2026

Stolt-Nielsen and NYK Line form strategic joint venture in Avenir LNG

Stolt-Nielsen and NYK Line form strategic joint venture in Avenir LNG

LONDON, March 16, 2026 - Stolt-Nielsen Limited (Oslo Børs: SNI), through its

subsidiary Stolt-Nielsen Gas Ltd., has today announced that it has entered into

a share purchase agreement to sell 50% of Avenir LNG Limited (Avenir LNG) to

Nippon Yusen Kabushiki Kaisha (NYK Line). Avenir LNG was founded in 2017 and has

grown into a leading player in the liquefied natural gas (LNG) bunkering sector,

operating a global fleet of LNG bunker vessels.

With this partnership, Stolt-Nielsen and NYK Line will expand their future

small-scale LNG and LNG bunkering opportunities through the joint venture,

supporting the global transition to LNG and bio-LNG for marine fuel and other

industrial applications. Following a wave of dual-fuel LNG vessel orders in

recent years, LNG is rapidly being adopted as a practical and scalable fuel that

enables shipping to achieve emissions reductions. This new joint venture in

Avenir LNG underscores the commitment of Stolt-Nielsen and NYK Line to

sustainable energy solutions for the maritime industry.

Udo Lange, Chief Executive Officer of Stolt-Nielsen Limited, said: "By entering

into this joint venture, we are developing our long-standing partnership with

NYK Line and supporting Avenir LNG's position in small-scale LNG supply and

bunkering. NYK's experience in shipping and logistics, together with potential

market opportunities arising from the continued expansion of LNG-fueled vessels,

is expected to add value to Avenir LNG, its customers, and our shareholders.

This transaction also reflects Stolt-Nielsen's commitment to supporting

sustainable energy solutions across global shipping supply chains by

facilitating safe and reliable access to LNG fuel. I would like to thank and

congratulate the Stolt-Nielsen, Avenir LNG and NYK Line teams for their

contributions to this important transaction."

Hironobu Watanabe, Chief Executive of Energy Division at NYK Line, said: "NYK

has long built a strong relationship with Stolt Nielsen in the chemical tanker

business. With this foundation of trust and proven partnership, and we are very

pleased to establish a new joint venture through Avenir LNG. As the maritime

industry accelerates its efforts toward decarbonisation, LNG and bio-LNG fuel

has become more essential and practical role in supporting a sustainable energy

transition. Through this new partnership, we are confident that Avenir LNG will

be well positioned to meet the growing demands of the market and deliver

enhanced value to the supply-chain. We will continue to develop our partnership

with Stolt Nielsen while advancing our initiatives in LNG and bio LNG bunkering,

contributing to a more sustainable future for the maritime industry."

Jonathan Quinn, Managing Director of Avenir LNG, said: "We are very pleased to

welcome NYK Line as a strategic partner in Avenir LNG alongside Stolt-Nielsen.

This joint venture brings together two highly respected shipping and logistics

groups with complementary strengths and a shared long-term vision for LNG as a

marine fuel. NYK Line's global reach and operational expertise will enhance our

ability to develop the business, accelerate the development of LNG bunkering

solutions, and support our customers' decarbonisation strategies as the market

continues to mature."

Completion of the transaction is expected to occur in the middle of 2026,

subject to customary approvals, including regulatory approvals.

For additional information please contact:

Jens F. Grüner-Hegge

Chief Financial Officer

UK +44 (0) 20 7611 8985

j.gruner-hegge@stolt.com (mailto:j.gruner-hegge@stolt.com)

Alex Ng

Vice President Strategy & Business Development

UK +44 (0) 20 7611 8913

al.ng@stolt.com (mailto:al.ng@stolt.com)

About Stolt-Nielsen Limited

Stolt-Nielsen (SNL or the 'Company') is a long-term investor and manager of

businesses focused on opportunities in logistics, distribution and aquaculture.

The Stolt-Nielsen portfolio consists of its three global bulk-liquid and

chemicals logistics businesses - Stolt Tankers, Stolthaven Terminals and Stolt

Tank Containers - Stolt Sea Farm and various investments. Stolt-Nielsen Limited

is listed on the Oslo Stock Exchange (Oslo Børs: SNI).

Nippon Yusen Kabushiki Kaisha (NYK)

Founded in 1885, NYK Line is a global logistics company that focuses on various

forms of marine transportation, such as global logistics and bulk energy

transportation, among many other related businesses. Operating one of the

world's largest transportation networks, the company owns and operates a diverse

fleet of car carriers, container carriers, and energy carriers. In recent years,

we have actively entered new business areas, including the decarbonisation

business, by leveraging the knowledge and technology we have cultivated over

many decades in shipping. For more information, please visit: www.nyk.com.

Avenir LNG Limited

Avenir LNG Limited is a leading independent owner and operator of small-scale

LNG carriers and LNG bunker vessels. Founded in 2017, the company plays a key

role in enabling the global energy transition by providing safe, reliable and

flexible LNG logistics solutions. With one of the largest fleets of LNG bunker

vessels globally, Avenir LNG supports the marine fuel transition to LNG and Bio-

LNG while also serving industrial customers through small-scale LNG

distribution. The company combines technical expertise, operational excellence

and long-term partnerships to deliver efficient, lower-emission energy solutions

worldwide.

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.