All statements in this annual report that are not statements of historical fact are “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that address activities, events or developments that the Partnership expects, projects, believes or anticipates will or may occur in the future, particularly in relation to our operations, cash flows, financial position, liquidity and cash available for distributions and the impact of changes to cash distributions on the Partnership’s business and growth prospects, plans, strategies, and changes and trends in our business and the markets in which we operate. In some cases, predictive, future-tense or forward-looking words such as “believe”, “intend”, “anticipate”, “estimate”, “project”, “forecast”, “plan”, “potential”, “may”, “should”, “could”, “target” and “expect” and similar expressions are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. In addition, we and our representatives may from time to time make other oral or written statements which are forward-looking statements, including in our periodic reports that we file with the SEC, other information sent to our security holders, and other written materials. We caution that these forward-looking statements represent our estimates and assumptions only as of the date of this annual report or the date on which such oral or written statements are made, as applicable, about factors that are beyond our ability to control or predict, and are not intended to give any assurance as to future results. Any of these factors or a combination of these factors could materially affect future results of operations and the ultimate accuracy of the forward-looking statements. Accordingly, you should not unduly rely on any forward-looking statements.
Factors that might cause future results and outcomes to differ include, but are not limited to, the following:
| ● | general LNG shipping market conditions and trends, including spot and multi-year charter rates, ship values, factors affecting supply and demand of LNG and LNG shipping, including geopolitical events, technological advancements and opportunities for the profitable operations of LNG carriers; |
| ● | fluctuations in charter hire rates, vessel utilization and vessel values; |
| ● | our ability to secure new multi-year charters at economically attractive rates; |
| ● | our ability to maximize the use of our vessels, including the re-deployment or disposition of vessels which are not operating under multi-year charters, including the risk that certain of our vessels may no longer have the latest technology at such time which may impact our ability to secure employment for such vessels as well as the rate at which we can charter such vessels; |
| ● | changes in our operating expenses, including crew wages, maintenance, dry-docking and insurance costs and bunker prices; |
| ● | number of off-hire days and dry-docking requirements including our ability to complete scheduled dry-dockings on time and within budget; |
| ● | the duration and effects of COVID-19 and any other pandemics on our workforce, business, operations and financial condition; |
| ● | fluctuations in prices for crude oil, petroleum products and natural gas, including LNG; |
| ● | fluctuations in exchange rates, especially the U.S. dollar and Euro; |
| ● | our ability to expand our portfolio by acquiring vessels through our drop-down pipeline with GasLog or by acquiring other assets from third parties; |
| ● | our ability to leverage GasLog’s relationships and reputation in the shipping industry and the ability of GasLog to maintain long-term relationships with major energy companies and major LNG producers, marketers and consumers to obtain new charter contracts; |
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| ● | GasLog’s relationships with its employees and ship crews, its ability to retain key employees and provide services to us, and the availability of skilled labor, ship crews and management; |
| ● | changes in the ownership of our charterers; |
| ● | our customers’ performance of their obligations under our time charters and other contracts; |
| ● | our future operating performance, financial condition, liquidity and cash available for distributions; |
| ● | our distribution policy and our ability to make cash distributions on our Preference Units or the impact of changes to cash distributions on our financial position; |
| ● | our ability to obtain debt and equity financing on acceptable terms to fund capital expenditures, acquisitions and other corporate activities and funding by banks of their financial commitments; |
| ● | future, pending or recent acquisitions of ships or other assets, business strategy, areas of possible expansion and expected capital spending; |
| ● | risks inherent in ship operation, including the discharge of pollutants; |
| ● | the expected cost of and our ability to comply with environmental and regulatory requirements related to climate change, including regulatory requirements with respect to emissions of air pollutants and greenhouse gases, as well as future changes in such requirements or other actions taken by regulatory authorities, governmental organizations, classification societies and standards imposed by our charterers applicable to our business; |
| ● | potential disruption of shipping routes due to accidents, diseases, pandemics, political events, piracy or acts by terrorists; |
| ● | potential liability from future litigation; and |
We undertake no obligation to update or revise any forward-looking statements contained in this annual report, whether as a result of new information, future events, a change in our views or expectations or otherwise, except as required by applicable law. New factors emerge from time to time, and it is not possible for us to predict all of these factors. Further, we cannot assess the impact of each such factor on our business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.
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