BG Group Sells Pair of LNG Carriers to GasLog

Silhouette of BG Group’s Methane Kari Elin LNG carrier, Built in 2004 she has a gross capacity of 138, 267 cubic meters.

LONDON, Dec 22 (Reuters) – Methane Services, a subsidiary of British energy firm BG Group, has sold two liquefied natural gas (LNG) vessels to GasLog Ltd for $460 million.

GasLog said it would charter the two carriers, Methane Becki Anne and Methane Julia Louise, back to BG for periods of 9-11 years, with the option of extending the charter periods for each vessel by three to five years.

“GasLog Ltd has entered into an agreement with Methane Services Ltd to acquire two modern tri-fuel diesel electric LNG carriers for a cost of $460 million,” GasLog said in a statement. BG confirmed the deal.

BG sees its LNG division as a core part of its business with a fleet of around 25 LNG vessels. It sees strong growth in the market over the coming decade.

It sources LNG from places including Trinidad, Australia and Egypt. (Reporting by Karolin Schaps; editing by Jason Neely)

(c) 2014 Thomson Reuters, All Rights Reserved

Subscribe for Daily Maritime Insights

Sign up for gCaptain’s newsletter and never miss an update

— trusted by our 109,144 members