GasLog Partners completes GasLog Geneva purchase

GasLog Partners completes GasLog Geneva purchase
Illustration purposes only (Image courtesy of GasLog)

GasLog Partners, the New York-listed spinoff of LNG shipper GasLog, have closed the acquisition of LNG carrier GasLog Geneva from its parent company. 

In an earlier statement, GasLog Partners said the acquisition is valued at $211 million.

GasLog Geneva is a 174,000 cubic meter tri-fuel diesel electric liquefied natural gas carrier built in 2016 and operated by GasLog since delivery.

The vessel is currently on a long-term time charter with a unit of Shell through September 2023. Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or eight

Shell has two consecutive extension options which, if exercised, would extend the charter for a period of either five or eight years.

The partnership’s fleet now consists of 11 LNG carriers with an average carrying capacity of approximately 154,000-cbm.

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