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Avenir and Shell enter into time charter agreement

Published by , Assistant Editor
LNG Industry,

Avenir LNG Limited has announced that it has entered into a Time Charter Party (TCP) with Shell NA LNG, LLC for the Avenir Achievement, a new-build 20 000 m3 LNG bunkering supply vessel which will be delivered to Avenir in 2Q22. The time charter to Shell is expected to begin in 1Q23 for a period of three years with an option to extend up to five years.

This charter (including options) increases Avenir’s overall vessel charter revenues backlog to US$81.0 million as of 1 December 2021. The vessel will be equipped with boil-off gas (BOG) reliquefication and simultaneous operations (SIMOPs) capabilities, making the vessel one of the world’s largest, most efficient and versatile LNG bunker supply vessels.

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 new-building programme. We are thrilled to welcome a world-class organisation like Shell as the latest customer for Avenir LNG.”

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LNG bunkering news New-build LNG news