Small-scale liquified natural gas supplier Avenir LNG Limited has executed two time charter deals for the Avenir Advantage and the Avenir Accolade.

Avenir’s affiliate Future Horizon, which is a joint venture between Avenir and MISC, has signed a new two-year time charter agreement with Petronas trading arm PETCO Trading Labuan Company.

Avenir will continue to collaborate with PTLCL by providing LNG as a marine fuel to their customers in Malaysia and Southeast Asia.

The company also entered into an agreement to time charter the Avenir Accolade for a period of up to two years with NFE Transport Partners, a subsidiary of New Fortress Energy.

The vessel has been serving New Fortress Energy under a bareboat contract and this new time charter will extend the term of the original agreement up until the fourth quarter of 2025.

Jonathan Quinn, managing director of Avenir LNG, said: “It is great to have secured our commercial agreements on our first two vessels. Doing so with our foundation customers clearly demonstrates their ongoing support in Avenir as the go-to provider in the small-scale market. I wish to extend Avenir’s full support to PTLCL and New Fortress Energy for the continued success of their respective businesses.”

The LNG specialist also stated that the time charter deals would increase the company’s total charter revenue backlog, including options, to $115m.