Solvang and BlackRock’s GIP to form Solvang Gas Carriers
The new 50:50 joint venture will combine Solvang’s operational expertise with BlackRock’s global corporate relationships to grow liquefied gas shipping business with a focus on LPG, ammonia, ethane, and CO2.

Solvang ASA and a fund managed by Global Infrastructure Partners (GIP), a part of BlackRock, one of the world’s leading private infrastructure investment firms, have entered into an agreement to establish a joint venture that aims to be a global leader in liquefied gas shipping.
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 (CO2) shipping. Solvang will continue to operate the fleet.
Joining forces to lead
Edvin Endresen, CEO of Solvang ASA, highlighted the strategic importance of the partnership, describing it as a key milestone in the company’s long-term vision.
“We have actively sought a strategic financial partner to support Solvang’s continued growth and enable execution of larger-scale projects. Global Infrastructure Partners (GIP), a part of BlackRock brings a global network across shipping, energy, and infrastructure that aligns seamlessly with Solvang’s long-term growth vision.”
“With BlackRock’s GIP on-board we are positioned to pursue large-scale, long-term opportunities. This strengthens our ability to deliver safe, reliable, and efficient liquefied gas shipping solutions at scale for an evolving global market”, Mr. Endresen stated.

“We’re excited to partner with Solvang and its exceptional management team to accelerate the company’s leadership in liquefied gas shipping,” said Mark Florian, Partner at Global Infrastructure Partners (GIP), a part of BlackRock, who leads the firm’s global mid-market infrastructure equity investment strategy.
“This was a unique opportunity to invest in a company at the forefront of an industry poised to see significant growth over the next few years, with a business model underpinned by long-term contracts. We look forward to leveraging our platform to help the company grow in new markets and with new customers.”
Fearnley Securities acted as sole financial advisor to Solvang ASA in connection with the Transaction.

Meet the fleet!
Discover the vessels at the heart of Solvang's new strategic alliance. These advanced carriers represent the next chapter in Solvang Gas Carriers’ commitment to safe, efficient, and future-ready maritime operations. Explore it here
By combining Solvang’s demonstrated track record of commercial and operational excellence with GIP’s infrastructure expertise and BlackRock’s global corporate relationships, Solvang Gas Carriers is well-positioned to capitalize on the structural tailwinds driving growth in the liquefied gas sector. Demand for liquefied gas shipping is expected to see significant growth over the next decade as commercial, industrial, and residential customers increasingly turn to LPG, ammonia and ethane for lower cost, lower-carbon fuels and as inputs in industrial products and processes. Shipping of CO2 is also expected to see substantial demand growth as the global carbon capture and storage industry expands.
The partnership aims to continue Solvang’s leadership in sustainable shipping. Its VLGC fleet is equipped with the latest and cleanest propulsion technology to minimize emissions and maximize fuel efficiency. Solvang is also pioneering the use of onboard carbon capture and storage.
