Watson Farley & Williams (“WFW”) advised legacy client Nippon Yusen Kabushiki Kaisha (“NYK”) on its acquisition of a 50% stake in Avenir LNG Limited (“Avenir LNG”) from Stolt-Nielsen Gas Ltd. (“Stolt Nielsen”), a subsidiary of Stolt-Nielsen Limited. The deal is expected to be completed at the end of the second quarter of 2026, subject to obtaining the usual approvals.
This acquisition expands NYK and Stolt-Nielsen’s opportunities in LNG storage, helping to advance the global shift toward LNG and bio-based LNG as marine fuel and other industrial uses. With the recent rise in orders for dual-fuel LNG vessels, LNG and LNG bunkering has further developed as a viable and scalable option for reducing emissions in the shipping sector.
Founded in 1885, NYK provides safe, high-quality transportation services using its global fleet and global network across the container, automotive, dry bulk and power tanker markets.
Avenir LNG was founded in 2017 and has grown into a leading player in the LNG bunkering space, operating a global fleet of vessels active in the sector.
Stolt-Nielsen is a leading global provider of integrated liquid logistics, warehousing and specialty transportation services founded in 1959.
The multidisciplinary WFW London team advising NYK was led by Asset Finance Partner Patrick Kirkby and Corporate Partner Christina Howard, with support from Senior Associate Sebastian Lillo and Associate Laura Izquierdo. Project documents and asset financing advice were provided by Partners Robert Platt and Joe McGladdery, Senior Associate Sarah Lunn, and Associates James Burgess and Lottie Laimer.
Partner Devan Khagram and associate Charlotte Herrington advised on the employment law aspects of the deal. Tax advice was provided by partner Claire Miles and associate Pip Moss. Competition expertise was provided by Partner Solange Leandro and Senior Associate Edita Katuskakova. Partner Nick Walker and associate Hamish Ungless advise on regulatory and environmental law matters. Real estate expertise was provided by Partner John Rosmini and Senior Associate Cole Tennant Fry. Advice on the sanctions was provided by partner Simon Kavanagh. Partner Heikki Trieschmann advised on LNG supply and trading contracts.
“We are pleased to advise NYK on this promising strategic allegiance that reflects both companies’ dedication to advancing sustainable energy in global shipping by ensuring safe and reliable access to LNG fuel,” Patrick commented.
Christina added: “We are pleased to support NYK as it continues to develop its LNG portfolio. By leveraging our full-service team of corporate and maritime sector experts, WFW is able to advise on all aspects of M&A transactions in maritime and energy, helping to advance the global energy transition.”
NYK commented: “We are very pleased to have completed this important transaction and greatly appreciate the support of Patrick, Christina and the Watson Farley & Williams team throughout the process. Their industry knowledge and commercial insight were invaluable, and the close collaboration between our teams helped us achieve a successful outcome for our business.”
Appleby supported WFW on the Bermuda law aspects of the transaction.
Source: Watson Farley and Williams
