Stolt-Nielsen increases stake in Higas
Stolt-Nielsen’s unit, Stolt-Nielsen Gas increased its ownership in Higas to 66.25 percent with a $5.6 million investment.
Higas was formed to develop shore-based storage, regasification and distribution in the port of Oristana, Sardinia to supply local industry with LNG.
Further investments are planned subject to securing additional off-take contracts.
The company is looking to continue its focus on the development of small-scale LNG storage and distribution supply chains to serve locations lacking access to LNG pipelines.
At the start of July, Stolt-Nielsen created Avenir LNG, a unit to focus on the development of small-scale LNG supply chain and serving “stranded demand” where off-the-grid customers lack access to natural gas.