Slaughter and May is advising a fund managed by Global Infrastructure Partners, a part of BlackRock, one of the world’s leading private infrastructure investment firms, on its agreement with Solvang ASA to establish Solvang Gas Carriers, a joint venture that aims to be a global leader in liquefied gas shipping.
By combining Solvang’s operational expertise with BlackRock’s global corporate relationships, the new 50:50 joint venture is well-positioned to capitalise on the structural tailwinds driving growth in the liquefied gas sector. Solvang Gas Carriers will initially own Solvang’s modern fleet of 13 Very Large Gas Carriers (VLGCs) specially designed to transport liquefied petroleum gas (LPG) and ammonia and will pursue growth across LPG, ammonia, ethane and carbon dioxide shipping. Solvang will continue to operate the fleet.
The partnership aims to continue Solvang’s leadership in sustainable shipping. Its VLGC fleet is equipped with the latest and cleanest propulsion technology to minimise emissions and maximise fuel efficiency. Solvang is also pioneering the use of onboard carbon capture and storage.