BG Group has entered into a $460million agreement with GasLog Ltd to acquire two modern tri-fuel diesel electric LNG carriers.
The company will charter back the two vessels, the Methane Becki Anne and Methane Julia Louise for nine and 11 years respectively.
A spokesman said the transactions would provide BG Group with flexibility in managing its future fleet requirements, and as the ships are currently managed by GasLog, day to day operations will be largely unchanged.
He said: “The LNG carriers are currently associated with a Pension Funding Partnership which is one element of the Group’s funding arrangements for the BG Pension Scheme.
“Consequently the majority of the proceeds from this sale will be utilised to support the funding of that scheme.
“The remaining net proceeds from the transaction of around $100m will be used to reduce the Group’s net debt.
“Closing of the transaction is subject to the satisfaction of certain conditions, including the completion of definitive documentation.
“The transaction is expected to close in the first quarter of 2015, with the charter agreement expected to commence at the same time.”
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