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Organization and Operations

12 Months Ended

Dec. 31, 2022

1.	Organization and Operations

GasLog Partners LP (“GasLog Partners” or the “Partnership”) was formed as a limited partnership under the laws of the Marshall Islands on January 23, 2014, being a wholly owned subsidiary of GasLog Ltd. (“GasLog”) for the purpose of initially acquiring the interests in three liquefied natural gas (“LNG”) carriers that were contributed to the Partnership by GasLog in connection with the initial public offering of its common units (the “IPO”) on May 12, 2014.

The Partnership’s principal business is the acquisition and operation of LNG vessels, providing LNG transportation services on a worldwide basis. GasLog LNG Services Ltd. (“GasLog LNG Services” or the “Manager”), a related party and a wholly owned subsidiary of GasLog, incorporated under the laws of Bermuda, provides technical and commercial services to the Partnership.

Since its IPO, the Partnership has acquired from GasLog 100% of the ownership interests in 15 vessel-owning entities in aggregate. The acquisitions were accounted for as reorganizations of companies under common control. The Partnership’s historical results and net assets were retroactively restated to reflect the historical results of the acquired entities from their respective dates of incorporation by GasLog. The carrying amounts of assets and liabilities included are based on the historical carrying amounts of such assets and liabilities recognized by the subsidiaries.

On October 26, 2021, GasLog Partners completed the sale and lease–back of the GasLog Shanghai with a wholly-owned subsidiary of China Development Bank Financial Leasing Co., Ltd. (“CDBL”). The vessel was sold and leased back under a bareboat charter with CDBL for a period of five years with no repurchase option or obligation.

On September 14, 2022, GasLog Partners completed the sale of the Methane Shirley Elisabeth (previously owned by GAS-twenty Ltd.) to an unrelated third party.

On October 31, 2022, GasLog Partners completed the sale and lease–back of the Methane Heather Sally with an unrelated third party. The vessel was sold and leased back under a bareboat charter until the middle of 2025, with no repurchase option or obligation.

As of December 31, 2022, GasLog held a 33.2% ownership interest in the Partnership (including 2.0% through its general partner interest). As a result of its 100% ownership of the general partner, and the fact that the general partner elects the majority of the Partnership’s directors in accordance with the Partnership Agreement, GasLog has the ability to control the Partnership’s affairs and policies.

As of December 31, 2022, the companies listed below were 100% held by the Partnership. The Partnership wholly owned 12 LNG vessels and operated two LNG vessels leased back under bareboat charters, as described above:

Cargo

Capacity

Place of

Date of

Cubic Meters

Name

Incorporation

Principal Activities

Vessel

(“cbm”)

Delivery Date

GAS-three Ltd.

Bermuda

April 2010

Right-of-use asset company

GasLog Shanghai

155,000

January 2013

GAS-four Ltd.

Bermuda

April 2010

Vessel-owning company

GasLog Santiago

155,000

March 2013

GAS-five Ltd.

Bermuda

February 2011

Vessel-owning company

GasLog Sydney

155,000

May 2013

GAS-seven Ltd.

Bermuda

March 2011

Vessel-owning company

GasLog Seattle

155,000

December 2013

GAS-eight Ltd.

Bermuda

March 2011

Vessel-owning company

Solaris

155,000

June 2014

GAS-eleven Ltd.

Bermuda

December 2012

Vessel-owning company

GasLog Greece

174,000

March 2016

GAS-twelve Ltd.

Bermuda

December 2012

Vessel-owning company

GasLog Glasgow

174,000

June 2016

GAS-thirteen Ltd.

Bermuda

July 2013

Vessel-owning company

GasLog Geneva

174,000

September 2016

GAS-fourteen Ltd.

Bermuda

July 2013

Vessel-owning company

GasLog Gibraltar

174,000

October 2016

GAS-sixteen Ltd.

Bermuda

January 2014

Vessel-owning company

Methane Rita Andrea

145,000

April 2014

GAS-seventeen Ltd.

Bermuda

January 2014

Vessel-owning company

Methane Jane Elizabeth

145,000

April 2014

GAS-nineteen Ltd.

Bermuda

April 2014

Vessel-owning company

Methane Alison Victoria

145,000

June 2014

GAS-twenty Ltd.

Bermuda

April 2014

Dormant

—

GAS-twenty one Ltd.

Bermuda

April 2014

Right-of-use asset company

Methane Heather Sally

145,000

June 2014

GAS-twenty seven Ltd.

Bermuda

January 2015

Vessel-owning company

Methane Becki Anne

170,000

March 2015

GasLog Partners Holdings LLC

Marshall Islands

April 2014

Holding company

—

GasLog-two Malta Ltd.

Malta

August 2022

Dormant

—