GasLog charters steam LNG carrier to Cheniere

Greece-based shipping firm GasLog has chartered one of its LNG carriers featuring a steam turbine propulsion to a unit of US export player Cheniere.

Peter Livanos-led GasLog chartered the 2006-built 145,000 cbm Methane Jane Elizabeth to Cheniere Marketing for a period of two years.

The vessel previously worked for trader Trafigura under a one-year deal which ended in November last year, according to GasLog.

The company’s chief executive Paul Wogan told analysts during GasLog’s fourth-quarter conference call on Monday that the firm chartered the 15-year old vessel at a fixed rate.

Wogan did not reveal any further information only saying that with this new deal, the company boosted its 2021 charter coverage to about 80%.

GasLog will have five vessels available for recharter this year, two steam vessels and one TFDE vessel currently trading in the short term market.

This also includes two TFDE vessels, GasLog Seattle and Solaris that will end their initial Shell charters later this year.

“We will look for longer-term employment for these vessels, whilst also aiming to maximize their utilization in the growing spot and short-term market,” Wogan said.

To remind, GasLog revealed a merger deal on Monday with BlackRock’s Global Energy & Power Infrastructure Fund, which would see the NYSE-listed LNG shipping firm go private.

GEPIF will pay $5.8 per share in cash to get about 45% shares in GasLog. Blenheim Holdings and the Onassis Foundation will continue to have a 55% stake in the LNG shipper.

Most Popular

Samsung Heavy wins contract for Eni’s Coral Norte FLNG

South Korean shipbuilder Samsung Heavy has secured a preliminary contract for Eni's second FLNG project in Mozambique, Coral Norte (Coral North), according to shipbuilding sources.

QatarEnergy LNG carrier wraps up trials in China

A 174,000-cubic-meter liquefied natural gas (LNG) carrier, built as part of QatarEnergy's massive shipbuilding program, has completed its trials in China, according to Hudong-Zhonghua.

LNG Canada sends second cargo

Shell-led LNG Canada has shipped the second cargo of liquefied natural gas from its Kitimat facility on the west coast of Canada. LNG Canada shareholder Petronas will deliver this shipment to Japan.

More News Like This

Cheniere’s Corpus Christi expansion project 85.4 percent complete

The Stage 3 expansion project at Cheniere’s Corpus Christi LNG export plant in Texas is 85.4 percent complete.

Cheniere plans to boost LNG export capacity to 100 mtpa

US LNG exporting giant Cheniere plans to boost its export capacity to about 100 mtpa via new expansion projects at its Sabine Pass and Corpus Christi LNG terminals.

Cheniere takes FID on two more Corpus Christi LNG trains

US LNG exporting giant Cheniere has made a positive final investment decision to build two more midscale trains at its Corpus Christi LNG plant in Texas. The company has also issued full notice to proceed to Bechtel.

Excelerate buys GasLog LNG carrier

US FSRU player Excelerate Energy has purchased a 2007-built steam liquefied natural gas (LNG) carrier from GasLog Partners, a part of Greek LNG shipping firm GasLog, according to brokers.