GasLog Ltd. Announces the Delivery of the GasLog Greece
31 Mars 2016 - 1:07PM
GasLog Ltd. ("GasLog", NYSE: GLOG), an international owner,
operator and manager of liquefied natural gas ("LNG") carriers,
announces the successful delivery of the GasLog Greece.
The GasLog Greece, which has been constructed at
Samsung Heavy Industries in South Korea, is a 174,000 cubic meter
tri-fuel diesel electric ("TFDE") LNG carrier. This delivery marks
the first of GasLog's eight "G-Class" vessels, which will deliver
over the next 3 years.
Following delivery, the GasLog Greece has
commenced a 10-year charter with a subsidiary of Royal Dutch Shell
plc ("Shell").
Seven of the eight G-Class vessels have
long-term contracts of between 7 and 10 years. Committed bank
financing has been secured for all of the eight newbuild vessels,
through the $1.3bn newbuild facility announced in October 2015.
GasLog Partners LP ("GasLog Partners", NYSE:
GLOP) has the right to acquire the GasLog Greece pursuant to the
omnibus agreement between GasLog and GasLog Partners.
Paul Wogan, Chief Executive Officer of GasLog
Ltd., commented, "The GasLog Greece is the first of four
newbuilding deliveries for GasLog in 2016. All of these vessels
have firm, long-term contracts with a very high quality
counterparty. They will contribute significant revenue and EBITDA
growth to GasLog as each vessel begins operating under its
charter."
About GasLog Ltd.
GasLog is an international owner, operator and
manager of LNG carriers. GasLog's fully-owned fleet includes 18 LNG
carriers (including 11 ships in operation and 7 LNG carriers on
order) and GasLog has four LNG carriers operating under its
technical management for third parties. GasLog Partners LP, a
master limited partnership formed by GasLog, owns a further eight
LNG carriers. GasLog's principal executive offices are at Gildo
Pastor Center, 7 Rue du Gabian, MC 98000, Monaco. GasLog's website
is http://www.gaslogltd.com.
Contacts: Jamie Buckland - Head of Investor Relations
Phone: +44 203 388 3116 Email: ir@gaslogltd.com
HUG#1998791
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