Dynagas LNG Partners has entered into a new long term time charter agreement with Gazprom Marketing & Trading Singapore for the employment of the 150,000 cubic meter LNG carrier Clean Energy.
The Clean Energy is the Dynagas LNG Partners’ only non-ice classed LNG carrier.
The charter is expected to commence in July 2018 and will have a firm duration of about 7 years and 9 months.
The gross contracted revenue from this contract is expected to be approximately $133m.
Following the expiration of the existing time charter to Shell in the second quarter of 2017, Clean Energy will undergo its statutory class five-year special survey and dry-docking and the company will seek to employ it under shorter term employment until the commencement of the new Gazprom time charter.
In the meantime, Dynagas has also agreed with Gazprom Global LNG from November 1 to reduce the charter income on both the Yenisei River and Lena River.
Following this amendment, the contracted revenues for the Yenisei River and Lena River as of November 1 will be reduced by approximately $8.7m for the Yenisei River and $9.6m for the Lena River over their remaining current charter terms which expire earliest in July and September 2018 respectively.
“We are pleased to report these new charter arrangements which result in an improved charter profile for the partnership and increases the partnership’s contracted backlog as of November 1 to approximately $1.6bn from $1.5bn prior to the conclusion of these new charter arrangements,” said Tony Lauritzen, CEO of Dynagas LNG Partners.