Apollo funds to acquire Hav Energy from HitecVision, terms not disclosed

Apollo and HitecVision announced that Apollo-managed funds have agreed to acquire maritime liquefied natural gas carrier infrastructure platform Hav Energy LNG Holding from HitecVision. Financial terms were not disclosed. Established by HitecVision in 2022, Hav Energy invests in LNGC infrastructure projects in partnership with Knutsen LNG, a large owner-operator of LNGCs globally, and jointly owns a portfolio of 10 newbuild LNGCs which are 100% contracted on long-term charters with investment grade counterparties. The portfolio includes two modern operating vessels and eight under construction at the Hyundai Heavy Industries shipyard in Korea due to be delivered in 2025 and 2026. Global LNG imports are forecast to reach over 600 million metric tons annually by 2040, driven by growth in Asia and Europe as well as efforts to cut emissions in heavy industries and transportation, and expectations for robust new liquification capacity coupled with limited newbuild LNG vessel supply also provide strong tailwinds supporting Hav Energy’s future growth trajectory.