On August 17, 2026, the European Commission granted unconditional approval of a proposed joint venture between Nippon Yusen Kabushiki Kaisha (“NYK”), a Japanese shipping and logistics conglomerate headquartered in Tokyo, and Stolt-Nielsen Gas Ltd. (“SNGL”), a Bermuda-based subsidiary of Stolt-Nielsen Limited (“SNL”). Under the terms of the merger, NYK and SNGL will acquire joint control of Avenir LNG Limited, a Bermuda-incorporated company that operates and acquires liquefied natural gas assets and supplies small-scale LNG to off-grid industry, power generation, and transport fuel sectors across Europe, Asia, and the United States. Avenir was previously under the sole control of SNGL.
The Commission, which received formal notification of the merger on July 24, 2026, determined that the transaction falls within the scope of the Merger Regulation and qualifies for simplified treatment under paragraph 5(b) of the Commission Notice on simplified procedures. It was cleared to proceed after the Commission found that there were no competition concerns that warranted an in-depth investigation or remedial commitments from the parties. The Commission ultimately declared that the transaction was compatible with both the internal market and the Agreement on the European Economic Area.
European Commission Decision | M.12325 – Competition Case Summary