GasLog Partners LP (NYSE:GLOP) (GasLog Partners) announced today that it has entered into a new multi-year time charter for the GasLog Sydney with a wholly owned subsidiary of Cheniere Energy, Inc. (Cheniere) scheduled to commence in 2018. The charterer has options to extend the charter for up to two consecutive periods at escalating rates.
GasLog Sydney is a 155,000 cbm tri-fuel diesel electric liquefied natural gas ("LNG") carrier built in 2013 and currently on a multi-year time charter with a wholly owned subsidiary of Royal Dutch Shell plc through September 2018. The vessel is currently undergoing a scheduled dry-docking during which the Partnership is enhancing its future marketability through the installation of a reliquefaction module.
Andy Orekar, Chief Executive Officer of GasLog Partners, stated, "I am very pleased to announce the signing of this charter agreement with Cheniere, the Partnership's second agreement this year with a new and high-quality counterparty. The execution of the charter further diversifies our customer base and increases our contracted revenue visibility, supporting our year-on-year distribution growth guidance of 5% to 7% in 2018."
GasLog Partners is a growth-oriented master limited partnership focused on owning, operating and acquiring LNG carriers under multi-year charters. GasLog Partners' fleet consists of 13 LNG carriers with an average carrying capacity of approximately 156,000 cbm.
Source: GasLog Partners LP