Avance Gas sells veteran LNG carrier

Oslo-based VLGC operator, Avance Gas on Friday said it has reached a deal to sell the liquefied natural gas (LNG) carrier Gaea.

The 1980-built 126,530-cbm LNG tanker is expected to be delivered to an undisclosed owner in December this year, according to a statement by Avance Gas.

“The sale proceeds correspond to the book value and will generate approximately $13.3 million in net cash proceeds,” the statement said.

LNG carrier Gaea, previously named LNG Abuja, is owned by Stolt-Nielsen that has a stake in Avance Gas and it is tipped to be “awaiting conversion”, according to GIIGNL’s 2016 report.

LNG World News Staff