The European Commission has cleared Stolt-Nielsen Limited and Nippon Yusen Kabushiki Kaisha’s proposed acquisition of joint control of Avenir LNG Limited under the EU Merger Regulation.
Avenir LNG Limited, Stolt-Nielsen Limited (SNL) and NYK are based in Bermuda, Bermuda and Japan respectively, the Commission pointed out in a release on Tuesday.
The deal relates mainly to supplying liquefied natural gas (LNG) — natural gas cooled into a liquid for easier transport and storage — for off-grid industry, power generation and transport fuel.
Decision based on limited EEA activity
The Commission said it did not expect the transaction to raise competition concerns because the joint venture has negligible activities in the European Economic Area (EEA).
The case was reviewed under the Commission’s simplified merger procedure.
Further details are available on the Commission’s competition website and in its public case register under case number M.12325.
