LONDON, December 22, 2021 - Avenir LNG Limited (N-OTC: Avenir) today announced it has entered into a Time Charter Party ("TCP") with Shell NA LNG, LLC ("Shell") for the Avenir Achievement, a newbuild 20,000cbm LNG Bunkering Supply Vessel which will be delivered to Avenir in Q2 2022. The time charter to Shell is expected to begin in Q1 2023 for a period of 3 years with an option to extend up to 5 years.
This charter (including options) increases Avenir's overall vessel charter revenues backlog to $81.0 million as of 1 December 2021. 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.
Commenting on the deal, Peter Mackey, CEO of Avenir LNG Limited, said "We are delighted to have executed this agreement with Shell for the Avenir Achievement and to play an important role in expanding Shell's LNG bunkering capabilities. This deal marks another major achievement in Avenir's development as we fix the last vessel in our current newbuilding programme. We are thrilled to welcome a world-class organisation like Shell as the latest customer for Avenir LNG."
About Avenir LNG Limited: Avenir LNG supplies small-scale LNG to off-grid industry, power generation and marine transport. Avenir LNG is a leading provider of small-scale LNG solutions; working with partners globally 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
