Oslo-listed Avance Gas Holding has announced an agreement for the sale of its LNG carrier Gaea.

While the buyer has not been revealed, Avance said that delivery and payment are scheduled for December 2016.

The sale will generate about US$13.3m of net proceeds. Avance Gas said it will further strengthen the company's liquidity position.

In August, Avance Gas logged a US$6.1m impairment loss for the very same vessel "due to changes in the market conditions" during the period.