DIF to invest in LNGC newbuildings

Thursday, 28 November 2019
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Independent infrastructure fund manager, DIF Capital Partners, has signed an agreement with Geogas Maritime and Access Capital Partners, to acquire a 50% stake in a French company that will own and operate five LNGCs.

The remaining 50% will be held by NYK.

The five 174,000 cu m vessels will be built by South Korean shipyards. The first ship is expected to be delivered in April, 2020.

All five ships will fly the French flag and they will be chartered to a French and European utility under long-term contracts and will be project financed under a French lease structure.

Thomas Vieillescazes, DIF’s Head of France, said: “This is an excellent opportunity for DIF CIF I to invest in high quality assets and grow DIF’s footprint into the expanding LNG sector alongside strong and experienced counterparties. We’re also very proud to participate in a strategic project for the further development of the French LNG sector.”

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