GasLog Partners buying LNG carrier Methane Becki Anne for $207.4 million

GasLog Partners, the New York-listed spinoff of LNG shipper GasLog, said Thursday it entered into an agreement with GasLog to buy 100 percent of the shares in the entity that owns and charters the LNG carrier Methane Becki Anne to Shell. 

The Methane Becki Anne is a 170,000-cbm tri-fuel diesel electric LNG carrier built in 2010 and technically managed by GasLog since delivery.

The vessel is currently on a multi-year time charter with a subsidiary of Shell through March 2024 and Shell has a unilateral option to extend the term of the time charter for a period of either three or five years.

The aggregate purchase price for the acquisition will be $207.4 million, which includes $1 million for positive net working capital balances to be transferred with the vessel and is approximately equal to the vessel’s net book value, GasLog Partners said in its third-quarter report.

GasLog Partners expects to finance the acquisition with cash on hand, plus the assumption of the Methane Becki Anne’s outstanding indebtedness of $93.9 million.

The acquisition is expected to close in the fourth quarter of 2018.

Share this article

Follow LNG World News

Events>

<< Oct 2019 >>
MTWTFSS
30 1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31 1 2 3

CWC World LNG Summit & Awards Evening

The CWC World LNG Summit & Awards Evening will be returning to Rome in 2019 to celebrate it’s 20th year.

read more >

LNG Bunkering Mediterrean

The only 3-day course offering theoretical and practical training on LNG bunkering designed by the Mediterranean market leaders.   

read more >

6th Mozambique Gas Summit & Exhibit

This year’s edition will have a revamped programme for attendees.

read more >

FLNG World Congress 2019

2019 FLNG World Congress will bring together stakeholders across the floating liquefaction value…

read more >