Alexander S Onassis Foundation Gaslogged In

GasLog Ltd. (GLOG) owns, operates, and manages vessels in the liquefied natural gas (LNG) market worldwide. It provides maritime services for the transportation of LNG and LNG vessel management services. GasLog’s fleet include 18 wholly-owned LNG carriers, including eleven ships in operation and seven LNG carriers on order.

The Alexander S Onassis Foundation paid out $30m last month to buy 1.9 million shares in Peter Livanos’s Gaslog and take its holding to 6.9 million shares – equivalent to an 8.4% stake.

New York-listed GasLog raised $199m on 23 January to help fund a $468m sale-and-leaseback deal for three 145,000-dwt LNG carriers with BG affiliate Me- thane Services.

The foundation purchased its shares in the private placement element of the GasLog offer priced at $15.75 per share. GasLog issued 2.3 million shares in the private placement as it printed 10.9 million new shares for investors and a further 1.4 million for underwriters.

Olympic LNG Investments is the beneficial owner of the 8.4% stake, but it is 100% owned by ASO Holdings which in turn is owned by ASO Financiera which is in turn owned by the Onassis foundation.

GasLog’s money from the equity issues will be allied with a $325m credit facility to complete the BG deal.  (Source: Intermodal, TradeWinds)

In addition, GLOG’s share price peaked last days at $22.65 realizing its highest share price since its IPO (30/03/2012) with market capitalization approximately $1.34B. Remarkable is the profit for the period ended in September 2013, that reached $35.484m while last year (2012) the same number was $1.543m.

GLOG, Full Size Image, Here

             Prices, consumption and production of LNG follow upward trends, according to BP statistical review of world energy 2013.

World natural gas production increased by 1.9% in 2012. The US once again recorded the largest national increase. Production grew in every region except Europe & Eurasia, where declines in Russia and the UK offset a gain in Norway. Natural gas consumption increased by a below-average 2.2%. (BP Statistical Review)

Consumption per capita 2012, Full Size Image, Here Source: BP Statistical Review 2013

CG Finance Blog contributor Petros Mpantavis has no position in any stocks mentioned. CG Finance Blog has no position in any of the stocks mentioned.

Petros Mpantavis 

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