GasLog gets $25m in cash flow deal with MLP

GasLog has become $25m richer thanks to a change in its relationship with MLP GasLog Partners.

The parties have agreed to lower GasLog Partner's incentive distribution of incremental cash flow from projects to 23% from 48% for quarterly dividends above $0.5625 per share.

"The IDR modifications reduce our expected cost of equity capital, facilitating dropdown acquisitions from GasLog and enabling the partnership to compete more effectively for third-party acquisitions," GasLog Partners chief executive Andrew Orekar said.