AVANCE GAS: Appoints Kristian Sørensen as new CEO

05.01.2021

The Board of Avance Gas Holding ("Avance Gas" or the "Company") is pleased to announce the appointment of Kristian Sørensen as the new Chief Executive Officer of Avance Gas AS.

Sørensen currently holds the position as CEO of the Oslo based shipbroker Fearnleys.

"We are very pleased to get Kristian Sørensen on board. With his vast experience from the shipping and LPG markets, he will become a valuable resource to Avance Gas", says John Fredriksen.

Sørensen, who will join Avance Gas on the 1st of April 2021, sees exciting times for both Avance Gas and for the VLGC market driven by demand growth for LPG, a robust trade pattern from the Atlantic Basin to the East and a well-balanced fleet.

"I am looking forward to further develop Avance Gas as a company adding value to its clients and shareholders as well as a contributor to a greener shipping industry", says Sørensen.



January 5, 2021

The Board of Directors

Avance Gas Holding Ltd.

Hamilton, Bermuda



For further queries, please contact:

Marius Hermansen, Chairman
Tel: +47 23 11 40 32

Randi Navdal Bekkelund, CFO
Tel: +47 22 00 48 29
Email: randi.navdal@avancegas.com



ABOUT AVANCE GAS
Avance Gas operates in the global market for transportation of liquefied petroleum gas (LPG). The Company is one of the world's leading owners and operators of Very Large Gas Carriers (VLGC), and operates a fleet of thirteen modern ships and two Dual Fuel LPG newbuildings due for delivery in 2021 and 2022.

For more information about Avance Gas, please visit: www.avancegas.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act