Working Conditions Aboard the Met.-Jane-Elizabeth

In a strategic move to enhance its fleet, GasLog Partners LP has finalized an agreement with GasLog Ltd. to acquire two liquefied natural gas (LNG) carriers: the Methane Jane Elizabeth and Methane Rita Andrea. Both vessels, launched in 2006, boast a capacity of 145,000 cubic meters each, with a total acquisition cost of approximately USD 328 million. GasLog Partners is set to fund this significant investment through a mix of equity and by taking over the existing credit facilities tied to the ships. Additionally, they have secured a commitment letter from Citibank for a fresh USD 450 million credit facility aimed at refinancing the current financial obligations of the ships in its ownership, alongside those for the newly acquired LNG carriers. Notably, GasLog originally obtained the Methane Jane Elizabeth and Methane Rita Andrea from an affiliate of BG Group (BG) in April 2014, overseeing their construction while providing ongoing technical management since their delivery. Currently, these vessels operate under long-term time charters with BG, with contracts initially set for 5.5 and 6 years, which are projected to conclude in October 2019 and April 2020, respectively.