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

16 Mar 2026 09:00 CET

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.

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