GasLog Acquires LNG Carrier
GasLog Ltd. ("GasLog" or the "Company") (NYSE: GLOG) today
announced that it has signed a memorandum of agreement to acquire the
STX Frontier, a 2010-built, 153,600 cubic meter LNG carrier from STX Pan
Ocean LNG PTE. Ltd. ("STX Pan Ocean"), a Singapore based company. The
intention is that GasLog will take over the vessel from STX Pan Ocean
early in the fourth quarter of 2013 in Spain, which makes her well
positioned to take advantage of the current tight supply of tonnage for
this winter in the Atlantic.
Paul Wogan, CEO; said, "We are delighted to announce this acquisition.
We believe this modern asset will provide great value for our
shareholders based on the attractive purchase price and our expectations