Dynagas LNG Partners LP Announces New Time Charters for the LNG Carriers “Clean Energy” and “Arctic Aurora”
July 13 2023 - 9:00AM
Dynagas LNG Partners LP (NYSE: “DLNG”) (“Dynagas Partners” or the
“Partnership”), an owner and operator of liquefied natural gas
(“LNG”) carriers, today announced the following:
The Partnership entered into the following new
time charter party agreements with Rio Grande LNG, LLC ("Rio
Grande"), a subsidiary of NextDecade Corporation (NASDAQ: NEXT),
adding approximately $270 million to its existing revenue
backlog:
- The 2007 built LNG carrier “Clean
Energy” has been employed for a time charter period of about 2
years, commencing between March – May 2026 following the expiration
of the existing Time Charter to SEFE Marketing & Trading.
- The 2013 built LNG carrier “Arctic
Aurora” has been employed for a time charter period of about 7
years, commencing between September – November 2026 following the
expiration of the existing Time Charter to Equinor ASA.
Tony Lauritzen, Chief Executive Officer of
Dynagas LNG Partners LP, commented:
“We are very pleased to enter into these new
agreements and providing shipping for NextDecade’s Final Investment
Decision approved LNG export facility in Brownsville, Texas. We
look forward to building on and developing our relationship with
NextDecade for many years to come.”
About Dynagas LNG Partners LP
Dynagas LNG Partners LP (NYSE: DLNG) is a master limited
partnership which owns and operates liquefied natural gas (LNG)
carriers employed on multi-year charters. The Partnership’s current
fleet consists of six LNG carriers, with aggregate carrying
capacity of approximately 914,000 cubic meters.
Visit the Partnership’s website at
www.dynagaspartners.com
Contact Information: Dynagas
LNG Partners LP Attention: Michael Gregos Tel. +30 210 8917960
Email: management@dynagaspartners.com
Investor Relations / Financial
Media: Nicolas Bornozis Markella Kara Capital Link, Inc.
230 Park Avenue, Suite 1540New York, NY 10169Tel. (212) 661-7566
E-mail: dynagas@capitallink.com
Forward-Looking Statements
Matters discussed in this press release may
constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Partnership desires to take advantage of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995 and is including this cautionary statement in
connection with this safe harbor legislation. The words “believe,”
“anticipate,” “intends,” “estimate,” “forecast,” “project,” “plan,”
“potential,” “may,” “should,” “expect,” “expected,” “pending” and
similar expressions identify forward-looking statements.
The forward-looking statements in this press
release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, examination by the Partnership’s management of
historical operating trends, data contained in its records and
other data available from third parties. Although the Partnership
believes that these assumptions were reasonable when made, because
these assumptions are inherently subject to significant
uncertainties and contingencies which are difficult or impossible
to predict and are beyond the Partnership’s control, the
Partnership cannot assure you that it will achieve or accomplish
these expectations, beliefs or projections.
In addition to these important factors, other
important factors that, in the Partnership’s view, could cause
actual results to differ materially from those discussed in the
forward-looking statements include the strength of world economies
and currencies, general market conditions, including fluctuations
in charter rates and vessel values, changes in demand for Liquefied
Natural Gas (LNG) shipping capacity, changes in the Partnership’s
operating expenses, including bunker prices, drydocking and
insurance costs, the market for the Partnership’s vessels,
availability of financing and refinancing, changes in governmental
rules and regulations or actions taken by regulatory authorities,
potential liability from pending or future litigation, general
domestic and international political conditions, potential
disruption of shipping routes due to accidents or political events,
vessel breakdowns and instances of off-hires and other factors.
Please see our filings with the U.S. Securities and Exchange
Commission for a more complete discussion of these and other risks
and uncertainties. The information set forth herein speaks only as
of the date hereof, and the Partnership disclaims any intention or
obligation to update any forward-looking statements as a result of
developments occurring after the date of this communication.
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