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Norwegian owner and sale and leaseback player Ocean Yield has increased its stake in France’s Geogas LNG.
In July 2024, Ocean Yield took over interests from infrastructure fund CVC DIF, which held a 31% stake in Geogas LNG. This provided the company with an indirect economic interest of 34% in France LNG Shipping (FLS).
Ocean Yield has now bought Access Capital Partners’ share in Geogas LNG, increasing its indirect economic interest in FLS from 34% to 45%.
The outfit, 50/50 owned by Japan’s NYK and Geogas LNG, owns a portfolio of 12 LNG carriers on long-term charters to tier-one investment-grade-rated European energy companies.
The fleet consists of seven vessels on the water and five newbuildings, with an average contract duration of nine years, or 13 years including extension options.
The transaction will add approximately $250m to Ocean Yield’s EBITDA backlog. Closing of the transaction is expected to occur during the second or third quarter of 2025.
The post Ocean Yield increases stake in French LNG player appeared first on Energy News Beat.
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