Seapeak announced that it has completed the acquisition of Greenship Gas Trust and Greenship Gas Manager Pte. Ltd. and their subsidiaries Evergas from Jaccar Holdings in an all-cash transaction with an enterprise value of approximately $700 million.
ith the acquisition complete, Evergas will rebrand and operate as a wholly-owned subsidiary of Seapeak.
Seapeak provides liquefied gas services primarily under long-term, fee-based charters through its interests in 51 LNG carriers (including 5 newbuildings), 20 mid-size LPG carriers (including 2 newbuildings) and six multi-gas carriers.
“Acquiring Evergas is another big step in Seapeak’s evolution as a leading owner and operator of liquefied gas carriers,” said Mark Kremin, Seapeak’s CEO.
Seapeak’s ownership interests in these vessels range from 20 to 100 percent. In addition, Seapeak owns a 30 percent interest in an LNG regasification terminal.
Steffen Jacobsen, CEO of Evergas, expects the deal to provide the company with financial strength and a solid platform to grow the company’s businesses in natural gas liquids and CO2, where the company sees outstanding potential for growth.