The barge in question has 7,500 cubic meters of capacity and was originally used to supply the Higas depot in Oristano
Avenir signed a Time Charter Party with Eni subsidiary LNG Shipping; charter to Eni will commence from delivery in Europe in 2025.
Avenir LNG Limited announced it has signed a Time Charter Party (TCP) with LNG Shipping S.p.A., a 100% subsidiary of Eni S.p.A.(Eni) for one of the company’s 7,500cbm LNG bunker vessels, the Avenir Aspiration.
At the end of 2021
This same barge, built by the Nantong Cimc Soe shipyard (Sinopacific Offshore & Engineering) and entered on the market at the end of 2021,
The multi-year time charter to Eni will commence from delivery in Europe in 2025.
Chartering strategy
With this announcement, Avenir continues to deliver on its chartering strategy which has successfully concluded four new term charter agreements over the past 12 months across its fleet of five vessels on the water and two under construction.
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Growing LNG portfolio
Also the announcement goes on to explain that this agreement is part of Eni‘s strategy to market its growing LNG portfolio and promote fuels with less environmental impact for navigation and transport, contributing to the transition towards low-emission energy carriers.
Sustainable cashflow
This charter increases the company’s third-party charter revenue backlog, including options, to over USD 285 million, securing additional long term sustainable cashflow for the Group and shareholders over the next decade.
Avenir Ascension
The Avenir Aspiration currently trades alongside the Avenir Ascension in the Northwest Europe performing small-scale supply services and ship-to-ship bunkering operations as part of Avenir’s physical LNG trading division, Avenir Supply and Trading.
Operational standards
Mr. Jonathan Quinn, Managing Director of Avenir LNG, said: “We are excited to be working with Eni to support their expansion into the LNG Bunkering market.”
“This transaction further solidifies Avenir as the trusted partner for modern and efficient small-scale LNG vessels as well as delivering on our strategy to facilitate the growth of LNG as a marine fuel globally.”
“We look forward to embarking on this long-term relationship with Eni whom we will serve with the highest safety and operational standards which Avenir has come to be known for.”
Consolidated experience
It is noteworthy that Thanks to Eni‘s consolidated experience in LNG and Enilive in fuel supply, the company aims to enhance its contribution to the decarbonisation of the maritime industry by integrating LNG into its offer, alongside biofuels such as HVO”.