GasLog secures financing for eight LNG newbuilds

GasLog secures financing for eight LNG newbuilds

Monaco-based LNG shipper GasLog informed that it has completed an export credit agency-backed debt financing of $1.3 billion with fourteen international banks for its current LNG newbuilding programme.

The newbuild facility covers eight vessels, which will be delivered between 2016 and 2019, GasLog said on Monday.

Seven of the eight vessels have long-term contracts of between 7 and 10 years and will be chartered to a BG Group unit following delivery.

GasLog’s outstanding capital expenditure for its eight-vessel newbuild programme is approximately $1.5 billion, with $1.3 billion of debt provided by the newbuild facility,  representing all planned financing for the vessels, the company said.

As the vessels deliver over the next four years it is intended that the outstanding balance will be funded by cash on GasLog’s balance sheet and operational cash flow, it added.

Image: GasLog

Share this article

Follow LNG World News

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 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

LNGgc London

LNGgc is a fantastic way of raising attendees’ company profile within this market and creating greater awareness of their brand…

read more >

LNG Pricing, Trading & Hedging Singapore

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >