Awilco LNG ASA (the Company) was incorporated in February 2011 by Awilco AS, a company in the AWILHELMSEN Group which has fostered several companies previously listed on Oslo Stock Exchange, for the purpose of acquiring three second-hand LNG vessels. 

The three LNG vessels WilGas, WilPower and WilEnergy were acquired for an aggregate price of USD 67 million in 2011, and were financed through private placements in addition to shareholder loans that were subsequently converted to equity. WilPower was sold in 2015 for net proceeds of USD 17.8 million, and WilGas and WilEnergy were sold in 2016 for net proceeds of USD 32.2 million.

On 12 May 2011, Awilco LNG signed shipbuilding contracts for construction of two LNG newbuildings, which were partly financed through a private placement of NOK 534.8 million in May 2011.

On 6 September 2011, the Company’s shares were listed at the Oslo Stock Exchange under the ticker ALNG. 

On 16 September 2013, the Group took delivery of its first 156,000 cbm TFDE newbuilding WilForce, and on 28 November 2013 Awilco LNG took delivery of its second 156,000 cbm TFDE newbuilding WilPride. Both vessels were financed through a financial lease, financing 75 % of the delivered cost.