Methane-Rita-Andrea Vessel Reviews and Specifications

In a significant move to bolster its operations, GasLog Partners LP has finalized an agreement with GasLog Ltd. for the purchase of two LNG carriers—the Methane Jane Elizabeth and Methane Rita Andrea—both launched in 2006 with a considerable capacity of 145,000 cubic meters each. The total acquisition cost for these vessels amounts to USD 328 million, a strategic investment intended to enhance GasLog Partners' portfolio. To fund the acquisition, the company plans to utilize a blend of equity and the existing credit facilities associated with the ships. Moreover, GasLog Partners has signed a commitment letter with Citibank, securing a new USD 450 million credit facility aimed at refinancing the current credit lines of its fleet, including the newly acquired LNG carriers. Previously, GasLog had procured the Methane Jane Elizabeth and Methane Rita Andrea from an affiliate of BG Group (BG) back in April 2014, overseeing the construction of both vessels while also managing their technical operations since their initial delivery. Currently, these vessels are engaged under long-term time charters with BG, featuring initial terms of 5.5 and 6 years, set to extend through October 2019 and April 2020, respectively.