Avance Gas was formed in 2007 as a subsidiary of Stolt-Nielsen to participate in the fast growing LPG market.
Avance Gas was established to grasp opportunities in the fast growing global LPG market, mainly driven by associated natural gas and LNG based LPG production and exports in the Middle East. Avance Gas acquired the first ship late 2009. Our strategy was to offer consolidation to shipowners and thereby being able to offer our customers more efficient and flexible freight solutions.
Late 2010, Avance Gas acquired three VLGCs in a share/cash transaction and Sungas became 50% shareholder in the company. Early summer of 2012, Avance Gas acquired Maran Gas’ LPG ships in a cash transaction, adding two ships to the fleet, then consisting of six modern VLGCs.
In the summer of 2013, Avance Gas did a private placement to Frontline 2012, whereby they became a 33% shareholder alongside Stolt-Nielsen and Sungas. In October 2013, Avance Gas acquired Frontline 2012’s newbuilding program at Jiangnan Shipyard, building the fleet to 14 units.
In October 2013, Avance Gas listed on the OTC market at Oslo Stock Exchange (ticker: AGHL). This was combined with Frontline 2012 dividending out some 2 million shares to their shareholders. This was followed by a private placement of US$ 100 MN in November 2013, adding a number of larger shareholders to the company.
On April 15th 2014, Avance Gas Holding Ltd becomes a publicly listed company on Oslo Stock Exchange, trading under the ticker AVANCE.
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