Italian energy major Eni has entered into a multi-year charter agreement with Avenir LNG for the Avenir Aspiration, a 7,500m³ LNG bunker vessel.

The vessel will be utilised to supply LNG to cargo and passenger ships, aligning with the maritime industry's shift towards using LNG as a cleaner alternative fuel.

Eni's engagement in the small-scale LNG bunkering market in the Mediterranean Sea is expected to expand with this agreement.

It also aligns with the company's sustainability goals and efforts to decarbonise the maritime sector by 2050.

Eni brokered this charter agreement through its wholly owned subsidiary, LNG Shipping.

The commencement of the multi-year charter is due upon the vessel's delivery in the course of 2025.

The Avenir Aspiration is currently active in north-west Europe alongside the Avenir Ascension, performing small-scale supply services and ship-to-ship bunkering as part of Avenir’s physical LNG trading division, Avenir Supply and Trading.

Avenir LNG managing director Jonathan Quinn said: “We are excited to be working with Eni to support their expansion into the LNG Bunkering market. This transaction further solidifies Avenir as the trusted partner for modern and efficient small-scale LNG vessels as well as delivering on our strategy to facilitate the growth of LNG as a marine fuel globally.”

Through this charter, Avenir LNG will see its third-party charter revenue backlog, including options, increase to more than $285m (€260m).

This ensures sustained long-term cash flow for the company and its shareholders for the coming decade.

Recently, Eni highlighted the significance of mitigating methane emissions, with the research identifying the gas as the second most impactful greenhouse gas contributing to climate change within the oil and gas sector.