Stena buys stake in 7 Seas LNG & Power

Sweden’s Stena group has acquired a 75 percent stake in 7 Seas LNG & Power bringing it into is a group of companies under the operating name of Stena Power & LNG Solutions.

Based in Grimstad, Norway, Stena Power & LNG Solutions will offer to the market the proprietary Jetty-Less LNG to power solutions, built on flexible commercial structures.

In its statement, Stena said the new unit is capable of providing turnkey deliveries of the patented LNG and power technology, including the complete technical management.

Svein Hellesmark, founder of 7 Seas LNG & Power, and chief technology officer (CTO) of Stena Power & LNG Solutions, said, “During our discussions with key interested clients over the last years, it had become clear that the Jetty-Less solutions would be even more attractive to our customers if the solutions could be offered on a turn-key or lease structure.”

Philip Fullerton, managing director, Northern Marine Group, said that the company is continuing its investment in new technology within the LNG space.

“This investment supplements our innovative small-scale LNG designs developed by our subsidiary Tritec Marine,” he said.