GasLog Partners Wraps Up GasLog Seattle Purchase

Image Courtesy: GasLog Ltd

Operator of liquefied natural gas (LNG) carriers GasLog Partners LP has finalized the acquisition of the 155,000 cubic meter LNG carrier GasLog Seattle.

The company purchased 100% of the shares in the entity that owns and charters GasLog Seattle from GasLog Ltd. for an aggregate purchase price of USD 189 million, including USD 1 million for positive net working capital balances to be transferred with the 2013-built tanker.

The tri-fuel diesel electric LNG carrier is currently on a multi-year time charter with a subsidiary of Royal Dutch Shell plc through December 2020.

Shell has two consecutive 5-year extension options, which if exercised, would extend the charter for a period of either 5 or 10 years.

Constructed by South Korea’s Samsung Heavy Industries. the vessel features a length of 285 meters and a width of 44 meters.

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