6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES

EXCHANGE ACT OF 1934

For the month of July 2021

Commission File Number 001-36433

GasLog Partners LP

(Translation of registrant’s name into English)

c/o GasLog LNG Services Ltd.

69 Akti Miaouli, 18537

Piraeus, Greece

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F  þ     Form 40-F  ◻

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):	◻
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):	◻

The press release issued by GasLog Partners LP on July 27, 2021 relating to its results for the three-month period ended June 30, 2021 and the related financial report are attached hereto as Exhibits 99.1 and 99.2 – 99.3, respectively.

INCORPORATION BY REFERENCE

Exhibits 99.2 and 99.3 to this Report on Form 6-K shall be incorporated by reference into our registration statement on Form F-3 (File No. 333-249399), filed with the Securities and Exchange Commission (the “SEC”) on October 9, 2020 and the registration statement on Form S-8 (File No. 333-203139), filed with the SEC on March 31, 2015, in each case to the extent not superseded by information subsequently filed or furnished (to the extent we expressly state that we incorporate such furnished information by reference) by us under the Securities Act of 1933 or the Securities Exchange Act of 1934, in each case as amended.

EXHIBIT LIST

Exhibit	Description
99.1	Press Release dated July 27, 2021
99.2	Financial Report for the Three and Six Months Ended June 30, 2021
	Management’s Discussion and Analysis of Financial Condition and Results of Operation
99.3	Unaudited Condensed Consolidated Financial Statements
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema
101.CAL	XBRL Taxonomy Extension Scheme Calculation Linkbase
101.DEF	XBRL Taxonomy Extension Scheme Definition Linkbase
101.LAB	XBRL Taxonomy Extension Scheme Label Linkbase
101.PRE	XBRL Taxonomy Extension Scheme Presentation Linkbase

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: July 27, 2021
	GASLOG PARTNERS LP
		by	/s/ Paul Wogan
			Name:	Paul Wogan
			Title:	Chief Executive Officer

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EX-99.1

Exhibit 99.1

Press Release

GasLog Partners LP Reports Financial Results for the Three-Month Period Ended June 30, 2021 and Declares Cash Distribution

Piraeus, Greece, July 27, 2021, GasLog Partners LP (“GasLog Partners” or the “Partnership”) (NYSE: GLOP), an international owner and operator of liquefied natural gas (“LNG”) carriers, today reported its financial results for the three-month period ended June 30, 2021.

Highlights

● Announced three new time charter agreements: a one-year charter for the GasLog Sydney with a subsidiary of TotalEnergies SE (“TotalEnergies”), an eight-month charter for the Solaris with a subsidiary of Royal Dutch Shell plc (“Shell”) and a charter with a minimum duration of one year (and a maximum of three years) for the Methane HeatherSally with a wholly owned subsidiary of Cheniere Energy, Inc. (“Cheniere”).

● Post quarter-end signed a new one-year time charter agreement for the GasLog Seattle with TotalEnergies.

● Repaid $18.8 million of debt during the second quarter of 2021, or $54.8 million of debt in the first six months of 2021.

● Published the Partnership’s Sustainability Report for 2020 on July 20, 2021.

● Announced the appointment of Paolo Enoizi, currently Chief Operating Officer of GasLog Ltd. (“GasLog”), as a director of the Partnership and as Chief Executive Officer of the Partnership, effective August 1, 2021.

● Executed scheduled dry-dockings for three of our vessels, the Methane Rita Andrea, the GasLog Greece and the GasLog Glasgow, resulting in a total of 82 scheduled off-hire days during the quarter (compared to nil in the second quarter in 2020).

● Quarterly Revenues, Profit, Adjusted Profit⁽¹⁾ and Adjusted EBITDA⁽¹⁾ of $70.4 million, $14.7 million, $12.7 million and $45.0 million, respectively.

● Quarterly Earnings per unit (“EPU”) of $0.14 and Adjusted EPU⁽¹⁾ of $0.10.

● Declared cash distribution of $0.01 per common unit for the second quarter of 2021.

CEO Statement

Paul Wogan, Chief Executive Officer, commented: “The Partnership’s fleet performed strongly in the second quarter of 2021, with uptime of close to 100%, allowing us to safely deliver nearly one million tonnes (“mt”) of LNG to customers around the world. We also repaid $18.8 million of debt, bringing the total amount of debt retired in 2021 to $54.8 million. In addition, within the last month we took advantage of a strong LNG shipping market and booked four new multi-month charters with leading customers at attractive rates, that also allowed us to lock in 100.0% charter coverage for the remainder of 2021 and 69.2% for 2022. This fixed charter coverage along with the cash flows generated during the first half of 2021 more than covers all the Partnership’s operating, overhead, dry-docking and debt service requirements for 2021 and 2022.

Our capital allocation for 2021 will continue to prioritize debt repayment to reduce further our breakeven costs over time. We also expect continued reductions to our operating and overhead expenses. With these ongoing improvements to our cost base and continued high levels of service and reliability, we believe that the Partnership continues to position itself to be a leader in the short-term market for LNG shipping.”

New Charter Agreements

During the second quarter of 2021, GasLog Partners entered into a one-year time charter agreement with TotalEnergies for the GasLog Sydney, a 155,000 cubic meter (“cbm”) tri-fuel diesel electric (“TFDE”) LNG carrier, built in 2013. In addition, following the conclusion of the Solaris’ initial multi-year time charter with Shell in late July 2021, its contract was extended for approximately eight months, through the end of the first quarter of 2022. The Solaris is a 155,000 cbm TFDE LNG carrier built in 2014. Finally, a new time charter agreement was signed with Cheniere for the Methane Heather Sally, a 145,000 cbm steam turbine propulsion (“Steam”) LNG carrier built in 2007. The charter has a minimum duration of one year, with Cheniere having the option, until late August, to extend the charter for an additional one or two years at varying rates.

Post quarter-end, in July 2021, GasLog Partners rechartered an additional vessel with TotalEnergies, the 155,000 cbm TFDE vessel GasLog Seattle, built in 2013, again for a period of approximately twelve months.

Financial Summary

	For the three months ended
(All amounts expressed in thousands of U.S. dollars, except per unit amounts)	June 30, 2020	June 30, 2021	% Change
Revenues	84,448	70,352	(17)	%
Profit	8,213	14,663	79	%
EPU, common (basic)	0.01	0.14	1,300	%
Adjusted Profit(1)	25,619	12,701	(50)	%
Adjusted EBITDA(1)	60,350	44,968	(25)	%
Adjusted EPU, common (basic)(1)	0.38	0.10	(74)	%
Cash distributions declared	6,022	518	(91)	%

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There were 1,283 available days for the three months ended June 30, 2021, as compared to 1,365 available days for the three months ended June 30, 2020. The year-over-year decrease in available days is attributable to 82 off-hire days due to the scheduled dry-dockings of three vessels in the second quarter of 2021 (compared to nil in the second quarter of 2020).

Management classifies the Partnership’s vessels from a commercial point of view into two categories: (a) spot fleet and (b) long-term fleet. The spot fleet includes all vessels under charter party agreements with an initial duration of less than (or equal to) five years (excluding optional periods), while the long-term fleet comprises all vessels with charter party agreements of an initial duration of more than five years (excluding optional periods).

For the three months ended June 30, 2020 and 2021, an analysis of available days, revenues and voyage expenses and commissions per category is presented below:

	For the three months ended		For the three months ended
	June 30, 2020		June 30, 2021
Amounts in thousands of U.S. dollars	Spot fleet	Long-term fleet	Spot fleet	Long-term fleet
Available days (*)	565	800	761	522
Revenues	20,523	63,925	27,471	42,881
Voyage expenses and commissions	(1,873)	(909)	(1,064)	(788)

^(*) Available days represent total calendar days in the period after deducting off-hire days where vessels are undergoing dry-dockings and unavailable days (i.e. days before and after a dry-docking where the vessel has limited practical ability for chartering opportunities).

Revenues decreased by $14.0 million, from $84.4 million for the quarter ended June 30, 2020, to $70.4 million for the same period in 2021. The decrease is mainly attributable to the expirations of the initial multi-year time charters of three of our Steam vessels with Shell in 2020 and early 2021 (which were at higher rates compared to their current re-contracted rates) and a decrease in revenues resulting from the 82 off-hire days due to the scheduled dry-dockings of three of our vessels in the second quarter of 2021 (compared to none in the same period in 2020).

Vessel operating costs increased by $3.1 million, from $16.9 million for the quarter ended June 30, 2020, to $20.0 million for the same period in 2021. The increase in vessel operating costs is mainly attributable to an increase of $1.7 million in technical maintenance expenses primarily in connection with the dry-dockings of three of our vessels in the second quarter of 2021 (compared to none in the same period in 2020) and an increase of $0.9 million in crew costs, mainly as a result of COVID-19 restrictions (increased costs for travelling and quarantines) and the unfavorable movement of the EUR/USD exchange rate compared to the same period in 2020. Daily operating costs per vessel (after excluding calendar days for the Solaris, the operating costs of which are covered by the charterers) increased from $13,261 per day for the three-month period ended June 30, 2020 to $15,734 per day for the three-month period ended June 30, 2021, which includes dry-docking related costs of $1,109 per day in the three-month period ended June 30, 2021.

General and administrative expenses decreased by $0.9 million, from $4.4 million for the three-month period ended June 30, 2020, to $3.5 million for the same period in 2021. The decrease in general and administrative expenses is mainly attributable to a decrease of $0.8 million in administrative services fees, in connection with the decrease of the annual fee payable to GasLog in 2021 by approximately $0.2 million per vessel per year. The decrease in the annual fee was driven by organizational changes and corporate savings at GasLog. As a result, daily general and administrative expenses decreased from $3,238 per vessel ownership day for the quarter ended June 30, 2020, to $2,554 per vessel ownership day for the quarter ended June 30, 2021.

The decrease in Adjusted EBITDA⁽¹⁾ of $15.4 million, from $60.4 million in the second quarter of 2020 as compared to $45.0 million in the same period in 2021, is attributable to the decrease in revenues of $14.0 million and increased operating expenses of $3.1 million described above, partially offset by an aggregate decrease of $1.8 million in voyage and general and administrative expenses.

Financial costs decreased by $4.0 million, from $13.1 million for the quarter ended June 30, 2020, to $9.1 million for the same period in 2021. The decrease in financial costs is mainly attributable to a decrease of $3.8 million in interest expense on loans, due to the lower London Interbank Offered Rate (“LIBOR”) rates in the three months ended June 30, 2020, as compared to the same period in 2021, as well as the reduced debt balances year-over-year. During the three-month period ended June 30, 2020, we had an average of $1,346.2 million of outstanding indebtedness with a weighted average interest rate of 3.4%, compared to an average of $1,261.1 million of outstanding indebtedness with a weighted average interest rate of 2.4% during the three-month period ended June 30, 2021.

Gain on derivatives decreased by $0.8 million, from a gain of $0.4 million for the three-month period ended June 30, 2020 to a loss of $0.4 million for the same period in 2021. The decrease is attributable to a net increase of $1.3 million in realized loss on derivatives held for trading (in 2021, interest rate swaps only), partially offset by a net increase of $0.5 million in unrealized gain from the mark-to-market valuation of derivatives held for trading which were carried at fair value through profit or loss.

The increase in profit of $6.5 million from $8.2 million in the second quarter of 2020 to $14.7 million in the second quarter of 2021 is mainly attributable to an impairment loss of $18.8 million recorded in the three months ended June 30, 2020 and the aforementioned decrease of $4.0 million in financial costs, partially offset by the decrease in Adjusted EBITDA⁽¹⁾ described above.

The decrease in Adjusted Profit⁽¹⁾ of $12.9 million, from $25.6 million in the second quarter of 2020 to $12.7 million in the second quarter of 2021, is attributable to the decrease in Adjusted EBITDA⁽¹⁾ described above, partially offset by the aforementioned decrease of $4.0 million in financial costs.

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As of June 30, 2021, we had $119.8 million of cash and cash equivalents, out of which $62.9 million was held in current accounts and $56.9 million was held in time deposits with an original duration of less than three months. An additional amount of $2.5 million of time deposits with an original duration greater than three months was classified under short-term investments.

As of June 30, 2021, we had an aggregate of $1,233.1 million of borrowings outstanding under our credit facilities, of which $105.1 million was repayable within one year.

As of June 30, 2021, our current assets totaled $141.6 million and current liabilities totaled $183.2 million, resulting in a negative working capital position of $41.6 million. Current liabilities include $25.3 million of unearned revenue in relation to hires received in advance (which represents a non-cash liability that will be recognized as revenues in July 2021 as the services are rendered). Management monitors the Partnership’s liquidity position throughout the year to ensure that it has access to sufficient funds to meet its forecast cash requirements, including debt service commitments, and to monitor compliance with the financial covenants within its loan facilities. We anticipate that our primary sources of funds for at least twelve months from the date of this report will be available cash, cash from operations and existing debt facilities. We believe that these anticipated sources of funds, as well as our ability to access the capital markets if needed, will be sufficient to meet our liquidity needs and comply with our banking covenants for at least twelve months from the date of this report.

(1) Adjusted Profit, Adjusted EBITDA and Adjusted EPU are non-GAAP financial measures and should not be used in isolation or as substitutes for GasLog Partners’ financial results presented in accordance with International Financial Reporting Standards (“IFRS”). For the definitions and reconciliations of these measures to the most directly comparable financial measures calculated and presented in accordance with IFRS, please refer to Exhibit II at the end of this press release.

LNG Market Update and Outlook

LNG demand was 95 mt in the second quarter of 2021, according to Poten, compared to 86 mt in the second quarter of 2020, an increase of approximately 11%. Demand growth was particularly strong in Asia and South America. Specifically, demand increased, year-over-year, in China (+4 mt, or 25%), Japan (+1 mt, or 7%) and South Korea (+1 mt, or 9%), the three largest end markets for LNG, as these countries rebuilt inventories following a colder than average winter ahead of summer cooling demand. In addition, demand from Argentina, Brazil and Chile together grew by approximately 3 mt (or 116%) year-over-year due to lower hydroelectric output from the region. Growth from these regions was offset by a decline of approximately 2 mt (or 35%) from the Middle East.

Global LNG supply was approximately 96 mt in the second quarter of 2021, growing by 8 mt (or 9%) year-over-year, according to Poten. Supply growth in the second quarter was particularly strong in the United States (“U.S.”) which increased production by 7 mt (or 61%) year-over-year, due to higher utilization from existing liquefaction trains as well as the ramp-up of production at the third trains at Freeport LNG, Cameron LNG and Corpus Christi LNG. The resumption of LNG exports from Egypt helped grow supply from the Middle East by approximately 2 mt (or 32%) while increased utilization of existing facilities saw Russian LNG production grow by approximately 1 mt (or 17%). Growth from these three regions offset declines from Trinidad and Norway. Looking ahead, approximately 125 mt of new LNG capacity is currently under construction and scheduled to come online between 2021 and 2026.

Headline spot rates for TFDE LNG carriers, as reported by Clarksons, averaged $58,000 per day in the second quarter of 2021, a 61% increase over the $36,000 per day average in the second quarter of 2020. Headline spot rates for Steam vessels averaged $45,000 per day in the second quarter of 2021, 96% higher than the average of $23,000 per day in the second quarter of 2020. Headline spot rates in the second quarter benefited from LNG demand growth from Asia combined with LNG supply growth in the US as detailed above.

As of July 23, 2021, Clarksons assessed headline spot rates for TFDE and Steam LNG carriers at $56,000 per day and $39,000 per day, respectively. Forward assessments for LNG carrier spot rates indicate rising spot rates through the remainder of the year. However, the magnitude and pace of any sustained upward movement in spot rates will depend on both the continued recovery of LNG demand and LNG price differentials between the major export and import regions, whilst the forecasted growth of the global LNG carrier fleet combined with any slow-down in demand could create volatility in the spot and short-term markets over the near and medium-term.

As of July 23, 2021, Poten estimated that the orderbook totaled 126 dedicated LNG carriers (>100,000 cbm), representing 19% of the on-the-water fleet. Of these, 106 vessels (or 84%) have multi-year charters. 31 orders have been placed for newbuild LNG carriers in 2021 as of July 23, 2021 compared with 34 for all of 2020.

ATM Common Equity Offering Programme (“ATM Programme”)

During the second quarter of 2021, GasLog Partners issued and received payment for 3,195,401 common units at a weighted average price of $3.19 per common unit for total gross proceeds of $10.2 million and net proceeds of $10.0 million, after broker commissions. During this period, the Partnership also issued 56,158 general partner units to its general partner in order for GasLog to retain its 2.0% general partner interest. The net proceeds from the issuance of the general partner units were $0.2 million.

Preference Unit Distributions

On July 26, 2021, the board of directors of GasLog Partners approved and declared a distribution on the 8.625% Series A Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units (the “Series A Preference Units”) of $0.5390625 per preference unit, a distribution on the 8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units (the “Series B Preference Units”) of $0.5125 per preference unit and a distribution on the 8.500% Series C Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units (the “Series C Preference Units”) of $0.53125 per preference unit. The cash distributions are payable on September 15, 2021 to all unitholders of record as of September 8, 2021.

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Common Unit Distribution

On July 26, 2021, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $0.01 per common unit for the quarter ended June 30, 2021. The cash distribution is payable on August 12, 2021 to all unitholders of record as of August 9, 2021.

Conference Call

GasLog Partners will host a conference call to discuss its results for the second quarter of 2021 at 8.30 a.m. EDT (3.30 p.m. EEST) on Tuesday, July 27, 2021. The Partnership’s senior management will review the operational and financial performance for the period. Management’s presentation will be followed by a Q&A session.

The dial-in numbers for the conference call are as follows:

+1 855 253 8928 (USA)

+44 20 3107 0289 (United Kingdom)

+33 1 70 80 71 53 (France)

+852 5819 4851 (Hong Kong)

+47 2396 4173 (Oslo)

Conference ID: 6766434

A live webcast of the conference call will be available on the Investor Relations page of the GasLog Partners website (http://www.gaslogmlp.com/investors).

For those unable to participate in the conference call, a replay of the webcast will be available on the Investor Relations page of the GasLog Partners website (http://www.gaslogmlp.com/investors).

About GasLog Partners

GasLog Partners is a growth-oriented owner, operator and acquirer of LNG carriers. The Partnership’s fleet consists of 15 LNG carriers with an average carrying capacity of approximately 158,000 cbm. GasLog Partners is a publicly traded master limited partnership (NYSE: GLOP) but has elected to be treated as a C corporation for U.S. income tax purposes and therefore its investors receive an Internal Revenue Service Form 1099 with respect to any distributions declared and received. The Partnership’s principal executive offices are located at 69 Akti Miaouli, 18537, Piraeus, Greece. Visit GasLog Partners’ website at http://www.gaslogmlp.com.

Forward-Looking Statements

All statements in this press release 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. We caution that these forward-looking statements represent our estimates and assumptions only as of the date of this press release, 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;

·      planned capital expenditures and availability of capital resources to fund capital expenditures;

·      disruption to the LNG, LNG shipping and financial markets caused by the global shutdown as a result of the COVID-19 pandemic;

·      business disruptions resulting from measures taken to reduce the spread of COVID-19, including possible delays due to the quarantine of vessels and crew, as well as government-imposed shutdowns;

·      fluctuations in prices for crude oil, petroleum products and natural gas, including LNG;

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·      fluctuations in exchange rates, especially the U.S. dollar and the 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;

·      the ability of GasLog to maintain long-term relationships with major energy companies and major LNG producers, marketers and consumers;

·      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 units or the impact of cash distribution reductions on our financial position;

·      our ability to obtain debt and equity financing on acceptable terms to fund capital expenditures, acquisitions and other corporate activities, funding by banks of their financial commitments, funding by GasLog of the revolving credit facility and our ability to meet our restrictive covenants and other obligations under our credit facilities;

·      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 impact on us and the shipping industry of environmental concerns, including climate change;

·      any malfunction or disruption of information technology systems and networks that our operations rely on or any impact of a possible cybersecurity event;

·      the expected cost of and our ability to comply with environmental and regulatory requirements, including 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

·      other risks and uncertainties described in the Partnership’s Annual Report on Form 20-F filed with the SEC on March 2, 2021, available at http://www.sec.gov.

We undertake no obligation to update or revise any forward-looking statements contained in this press release, 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 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.

The declaration and payment of distributions are at all times subject to the discretion of our board of directors and will depend on, amongst other things, risks and uncertainties described above, restrictions in our credit facilities, the provisions of Marshall Islands law and such other factors as our board of directors may deem relevant.

Contacts:

Joseph Nelson

Head of Investor Relations

Phone: +1-212-223-0643

E-mail: ir@gaslogmlp.com

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EXHIBIT I – Unaudited Interim Financial Information

Unaudited condensed consolidated statements of financial position

As of December 31, 2020 and June 30, 2021

(All amounts expressed in thousands of U.S. Dollars, except unit data)

	December 31,	June 30,
	2020	2021
Assets
Non-current assets
Other non-current assets	186	88
Tangible fixed assets	2,206,618	2,174,891
Right-of-use assets	516	602
Total non-current assets	2,207,320	2,175,581
Current assets
Trade and other receivables	16,265	13,948
Inventories	3,036	3,146
Prepayments and other current assets	2,691	2,171
Short-term investments	—	2,500
Cash and cash equivalents	103,736	119,816
Total current assets	125,728	141,581
Total assets	2,333,048	2,317,162
Partners’ equity and liabilities
Partners’ equity
Common unitholders (47,517,824 units issued and outstanding as of December 31, 2020 and 50,722,201 units issued and outstanding as of June 30, 2021)	594,901	637,843
General partner (1,021,336 units issued and outstanding as of December 31, 2020 and 1,077,494 units issued and outstanding as of June 30, 2021)	11,028	11,949
Preference unitholders (5,750,000 Series A Preference Units, 4,600,000 Series B Preference Units and 4,000,000 Series C Preference Units issued and outstanding as of December 31, 2020 and June 30, 2021)	347,889	347,889
Total partners’ equity	953,818	997,681
Current liabilities
Trade accounts payable	13,578	13,222
Due to related parties	7,525	1,466
Derivative financial instruments-current portion	8,185	7,632
Other payables and accruals	50,679	55,447
Borrowings—current portion	104,908	105,065
Lease liabilities—current portion	332	363
Total current liabilities	185,207	183,195
Non-current liabilities
Derivative financial instruments-non-current portion	12,152	7,136
Borrowings—non-current portion	1,180,635	1,128,079
Lease liabilities—non-current portion	112	197
Other non-current liabilities	1,124	874
Total non-current liabilities	1,194,023	1,136,286
Total partners’ equity and liabilities	2,333,048	2,317,162

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Unaudited condensed consolidated statements of profit or loss

For the three and six months ended June 30, 2020 and 2021

(All amounts expressed in thousands of U.S. Dollars, except per unit data)

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Revenues	84,448	70,352	175,801	157,440
Voyage expenses and commissions	(2,782)	(1,852)	(6,670)	(3,931)
Vessel operating costs	(16,895)	(20,044)	(35,988)	(37,851)
Depreciation	(20,675)	(20,798)	(41,273)	(41,484)
General and administrative expenses	(4,421)	(3,488)	(8,592)	(6,559)
Impairment loss on vessels	(18,841)	—	(18,841)	—
Profit from operations	20,834	24,170	64,437	67,615
Financial costs	(13,067)	(9,115)	(28,580)	(18,531)
Financial income	77	11	276	23
Gain/(loss) on derivatives	369	(403)	(13,751)	916
Total other expenses, net	(12,621)	(9,507)	(42,055)	(17,592)
Profit and total comprehensive income for the period	8,213	14,663	22,382	50,023
Earnings per unit, basic and diluted:
Common unit, basic	0.01	0.14	0.15	0.71
Common unit, diluted	0.01	0.14	0.14	0.68
General partner unit	0.01	0.14	0.15	0.72

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Unaudited condensed consolidated statements of cash flows

For the six months ended June 30, 2020 and 2021

(All amounts expressed in thousands of U.S. Dollars)

	For the six months ended
	June 30,	June 30,
	2020	2021
Cash flows from operating activities:
Profit for the period	22,382	50,023
Adjustments for:
Depreciation	41,273	41,484
Impairment loss on vessels	18,841	—
Financial costs	28,580	18,531
Financial income	(276)	(23)
Loss/(gain) on derivatives (excluding realized loss on forward foreign exchange contracts held for trading)	13,342	(916)
Share-based compensation	659	167
	124,801	109,266
Movements in working capital	(14,743)	3,751
Net cash provided by operating activities	110,058	113,017
Cash flows from investing activities:
Payments for tangible fixed assets additions	(12,027)	(12,241)
Financial income received	307	23
Purchase of short-term investments	—	(2,500)
Net cash used in investing activities	(11,720)	(14,718)
Cash flows from financing activities:
Borrowings drawdowns	25,940	—
Borrowings repayments	(55,805)	(54,838)
Interest paid	(28,834)	(21,384)
Payments of cash collateral for interest rate swaps	(15,000)	—
Release of cash collateral for interest rate swaps	—	280
Payment of loan issuance costs	(189)	—
Proceeds from public offerings of common units and issuances of general partner units (net of underwriting discounts and commissions)	—	10,205
Repurchases of common units	(996)	—
Payment of offering costs	(15)	(124)
Distributions paid	(47,885)	(16,134)
Payments for lease liabilities	(228)	(224)
Net cash used in financing activities	(123,012)	(82,219)
(Decrease)/increase in cash and cash equivalents	(24,674)	16,080
Cash and cash equivalents, beginning of the period	96,884	103,736
Cash and cash equivalents, end of the period	72,210	119,816

11

EXHIBIT II

Non-GAAP Financial Measures:

EBITDA is defined as earnings before financial income and costs, gain/loss on derivatives, taxes, depreciation and amortization. Adjusted EBITDA is defined as EBITDA before impairment loss on vessels and restructuring costs. Adjusted Profit represents earnings before (a) non-cash gain/loss on derivatives that includes unrealized gain/loss on derivatives held for trading, (b) write-off and accelerated amortization of unamortized loan fees, (c) impairment loss on vessels and (d) restructuring costs. Adjusted EPU, represents Adjusted Profit (as defined above), after deducting preference unit distributions, divided by the weighted average number of units outstanding during the period. EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU, which are non-GAAP financial measures, are used as supplemental financial measures by management and external users of financial statements, such as investors, to assess our financial and operating performance. The Partnership believes that these non-GAAP financial measures assist our management and investors by increasing the comparability of our performance from period to period. The Partnership believes that including EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU assists our management and investors in (i) understanding and analyzing the results of our operating and business performance, (ii) selecting between investing in us and other investment alternatives and (iii) monitoring our ongoing financial and operational strength in assessing whether to purchase and/or to continue to hold our common units. This increased comparability is achieved by excluding the potentially disparate effects between periods of, in the case of EBITDA and Adjusted EBITDA, financial costs, gain/loss on derivatives, taxes, depreciation and amortization; in the case of Adjusted EBITDA, impairment loss on vessels and restructuring costs and, in the case of Adjusted Profit and Adjusted EPU, non-cash gain/loss on derivatives, write-off and accelerated amortization of unamortized loan fees, impairment loss on vessels and restructuring costs, which items are affected by various and possibly changing financing methods, financial market conditions, general shipping market conditions, capital structure and historical cost basis and which items may significantly affect results of operations between periods. Restructuring costs are excluded from Adjusted EBITDA, Adjusted Profit and Adjusted EPU because restructuring costs represent charges reflecting specific actions taken by management to improve the Partnership’s future profitability and therefore are not considered representative of the underlying operations of the Partnership. Impairment loss is excluded from Adjusted EBITDA, Adjusted Profit and Adjusted EPU because impairment loss on vessels represents the excess of their carrying amount over the amount that is expected to be recovered from them in the future and therefore is not considered representative of the underlying operations of the Partnership.

EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU have limitations as analytical tools and should not be considered as alternatives to, or as substitutes for, or superior to, profit, profit from operations, earnings per unit or any other measure of operating performance presented in accordance with IFRS. Some of these limitations include the fact that they do not reflect (i) our cash expenditures or future requirements for capital expenditures or contractual commitments, (ii) changes in, or cash requirements for, our working capital needs and (iii) the cash requirements necessary to service interest or principal payments on our debt. Although depreciation and amortization are non-cash charges, the assets being depreciated and amortized will often have to be replaced in the future and EBITDA and Adjusted EBITDA do not reflect any cash requirements for such replacements. EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU are not adjusted for all non-cash income or expense items that are reflected in our statement of cash flows and other companies in our industry may calculate these measures differently to how we do, limiting their usefulness as comparative measures. EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU exclude some, but not all, items that affect profit or loss and these measures may vary among other companies. Therefore, EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU as presented herein may not be comparable to similarly titled measures of other companies. The following tables reconcile EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU to Profit, the most directly comparable IFRS financial measure, for the periods presented.

In evaluating EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of EBITDA, Adjusted EBITDA, Adjusted Profit and Adjusted EPU should not be construed as an inference that our future results will be unaffected by the excluded items.

Reconciliation of Profit to EBITDA and Adjusted EBITDA:

(Amounts expressed in thousands of U.S. Dollars)

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period	8,213	14,663	22,382	50,023
Depreciation	20,675	20,798	41,273	41,484
Financial costs	13,067	9,115	28,580	18,531
Financial income	(77)	(11)	(276)	(23)
(Gain)/loss on derivatives	(369)	403	13,751	(916)
EBITDA	41,509	44,968	105,710	109,099
Impairment loss on vessels	18,841	—	18,841	—
Adjusted EBITDA	60,350	44,968	124,551	109,099

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Reconciliation of Profit to Adjusted Profit:

(Amounts expressed in thousands of U.S. Dollars)

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period	8,213	14,663	22,382	50,023
Non-cash (gain)/loss on derivatives	(1,435)	(1,962)	12,217	(5,569)
Impairment loss on vessels	18,841	—	18,841	—
Adjusted Profit	25,619	12,701	53,440	44,454

Reconciliation of Profit to EPU and Adjusted EPU:

(Amounts expressed in thousands of U.S. Dollars,
except unit and per unit amounts)

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period	8,213	14,663	22,382	50,023
Adjustment for:
Paid and accrued preference unit distributions	(7,582)	(7,582)	(15,164)	(15,164)
Partnership’s profit attributable to:	631	7,081	7,218	34,859
Common units	617	6,933	7,063	34,127
General partner units	14	148	155	732
Weighted average units outstanding (basic)
Common units	46,713,991	48,161,285	46,739,034	47,841,332
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
EPU (basic)
Common units	0.01	0.14	0.15	0.71
General partner units	0.01	0.14	0.15	0.72

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period	8,213	14,663	22,382	50,023
Adjustment for:
Paid and accrued preference unit distributions	(7,582)	(7,582)	(15,164)	(15,164)
Partnership’s profit used in EPU calculation	631	7,081	7,218	34,859
Non-cash (gain)/loss on derivatives	(1,435)	(1,962)	12,217	(5,569)
Impairment loss on vessels	18,841	—	18,841	—
Adjusted Partnership’s profit used in EPU calculation attributable to:	18,037	5,119	38,276	29,290
Common units	17,650	5,013	37,455	28,675
General partner units	387	106	821	615
Weighted average units outstanding (basic)
Common units	46,713,991	48,161,285	46,739,034	47,841,332
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Adjusted EPU (basic)
Common units	0.38	0.10	0.80	0.60
General partner units	0.38	0.10	0.80	0.60

13

EX-99.2

Exhibit 99.2

Financial Report for the Three and Six Months Ended June 30, 2021

Management’s Discussion and Analysis of Financial Condition and Results of Operation

The following is a discussion of our financial condition and results of operations for the three-and six-month periods ended June 30, 2021 and June 30, 2020. References to “GasLog Partners”, “we”, “our”, “us” and “the Partnership” or similar terms refer to GasLog Partners LP and its subsidiaries. You should read this section in conjunction with our unaudited condensed consolidated financial statements and related notes included elsewhere in this report. For additional information relating to our management’s discussion and analysis of financial condition and results of operations, please see our Annual Report on Form 20-F filed with the United States Securities Exchange Commission (the “SEC”) on March 2, 2021. This discussion includes forward-looking statements which, although based on assumptions that we consider reasonable, are subject to risks and uncertainties which could cause actual events or conditions to differ materially from those currently anticipated and expressed or implied by such forward-looking statements. See also discussion in the section entitled “Forward-Looking Statements” below.

Forward-Looking Statements

All statements in this 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 dividends or distributions and the impact of changes to our cash distributions on the Partnership’s business and growth prospects, plans, strategies, business prospects and changes and trends in our business and the markets in which we operate. We caution that these forward-looking statements represent our estimates and assumptions only as of the date of this report, 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 liquefied natural gas (“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;

·      planned capital expenditures and availability of capital resources to fund capital expenditures;

·      disruption to the LNG, LNG shipping and financial markets caused by the global shutdown as a result of the COVID-19 pandemic;

·      business disruptions resulting from measures taken to reduce the spread of COVID-19, including possible delays due to the quarantine of vessels and crew, as well as government-imposed shutdowns;

·      fluctuations in prices for crude oil, petroleum products and natural gas, including LNG;

·      fluctuations in exchange rates, especially the U.S. dollar and the Euro;

·      our ability to expand our portfolio by acquiring vessels through our drop-down pipeline with GasLog Ltd. (“GasLog”) or by acquiring other assets from third parties;

·      our ability to leverage GasLog’s relationships and reputation in the shipping industry;

·      the ability of GasLog to maintain long-term relationships with major energy companies and major LNG producers, marketers and consumers;

·      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 units or the impact of cash distribution reductions on our financial position;

·      our ability to obtain debt and equity financing on acceptable terms to fund capital expenditures, acquisitions and other corporate activities, funding by banks of their financial commitments, funding by GasLog of the revolving credit facility and our ability to meet our restrictive covenants and other obligations under our credit facilities;

·      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 impact on us and the shipping industry of environmental concerns, including climate change;

14

·      any malfunction or disruption of information technology systems and networks that our operations rely on or any impact of a possible cybersecurity event;

·       the expected cost of and our ability to comply with environmental and regulatory requirements, including 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

·       other risks and uncertainties described in the Partnership’s Annual Report on Form 20-F filed with the SEC on March 2, 2021, available at http://www.sec.gov.

The declaration and payment of distributions are at all times subject to the discretion of our board of directors and will depend on, amongst other things, the risks and uncertainties described above, restrictions in our credit facilities, the provisions of Marshall Islands law and such other factors as our board of directors may deem relevant.

We undertake no obligation to update or revise any forward-looking statements contained in this 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.

Cash Distribution

On July 26, 2021, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $0.01 per common unit for the quarter ended June 30, 2021. The cash distribution is payable on August 12, 2021 to all unitholders of record as of August 9, 2021. The aggregate amount of the declared distribution will be $0.5 million based on the number of units issued and outstanding as of June 30, 2021.

Overview

Since our initial public offering (“IPO”) in May 2014, we have been a growth-oriented limited partnership focused on acquiring, owning and operating LNG carriers engaged in LNG transportation under multi-year charters, growing our fleet from three vessels at the time of our IPO to 15 today. We are now focusing our capital allocation on debt repayment, prioritizing balance sheet strength for 2021, in order to lower our cash break-evens, reduce our cost of capital and further enhance the Partnership’s competitive positioning.

As of June 30, 2021, our fleet consisted of ten vessels with tri-fuel diesel electric (“TFDE”) propulsion and five steam turbine propulsion (“Steam”) vessels. We also have options and other rights under which we may acquire additional LNG carriers from GasLog. We believe that such options and rights could provide us with built-in growth opportunities, subject to certain conditions described below. We may also acquire vessels or other LNG infrastructure assets from shipyards or other owners. However, we cannot assure you that we will make any acquisition or that, as a consequence, we will successfully grow our distributions per common unit. Among other things, our ability to acquire any additional LNG carriers or other LNG infrastructure assets may be dependent upon our ability to raise additional equity and debt financing.

Our Fleet

Our fleet currently consists of the following vessels:

			Cargo
			Capacity	Charterer (for
			(cubic meters	contracts of more		Charter
LNG Carrier		Year Built	“cbm”)	than six months)	Propulsion	Expiration	Optional Period
1	GasLog Santiago	2013	155,000	Trafigura (1)	TFDE	December 2021	2022–2028 (1)
2	Methane Rita Andrea	2006	145,000	Gunvor (2)	Steam	March 2022	2022 (2)
3	Solaris	2014	155,000	Shell (3)	TFDE	March 2022	2022 (3)
4	Methane Heather Sally	2007	145,000	Cheniere (4)	Steam	June 2022	2023-2024 (4)
5	GasLog Sydney	2013	155,000	TotalEnergies (5)	TFDE	June 2022	—
6	GasLog Seattle	2013	155,000	TotalEnergies	TFDE	June 2022	—
7	Methane Shirley Elisabeth	2007	145,000	JOVO (6)	Steam	August 2022	—
8	GasLog Shanghai	2013	155,000	Gunvor	TFDE	November 2022	—
9	Methane Jane Elizabeth	2006	145,000	Cheniere	Steam	March 2023	2024–2025 (7)
10	GasLog Geneva	2016	174,000	Shell	TFDE	September 2023	2028–2031 (8)
11	Methane Alison Victoria	2007	145,000	CNTIC VPower (9)	Steam	October 2023	2024–2025 (9)
12	GasLog Gibraltar	2016	174,000	Shell	TFDE	October 2023	2028–2031 (8)
13	Methane Becki Anne	2010	170,000	Shell	TFDE	March 2024	2027–2029 (10)
14	GasLog Greece	2016	174,000	Shell	TFDE	March 2026	2031 (11)
15	GasLog Glasgow	2016	174,000	Shell	TFDE	June 2026	2031 (11)

15

(1) The vessel is chartered to Trafigura Maritime Logistics PTE Ltd.(“Trafigura”). Charterer may extend the term of this time charter for a period ranging from one to seven years, provided that the charterer gives us advance notice of declaration. The period shown reflects the expiration of the minimum optional period and the maximum optional period.

(2) The vessel is chartered to Clearlake Shipping Pte. Ltd., a subsidiary of Gunvor Group Ltd. (“Gunvor”). Charterers may extend the term of the time charter by an additional period of six months.

(3) The vessel is chartered to a wholly owned subsidiary of Royal Dutch Shell plc, (“Shell”). Charterers have the option to extend the charter by an additional four months.

(4) The vessel is chartered to Cheniere Marketing International LLP, a subsidiary of Cheniere Energy Inc. (“Cheniere”). Charterers have the option to declare one out of three firm periods of one, two and three years at varying rates.

(5) The vessel is chartered to TotalEnergies Gas & Power Limited, a wholly owned subsidiary of TotalEnergies SE (“TotalEnergies”).

(6) The vessel is chartered to Singapore Carbon Hydrogen Energy Pte. Ltd., a wholly owned subsidiary of JOVO Group (“JOVO”).

(7) Charterers may extend the term of the time charters by two additional periods of one year, provided that the charterer gives us advance notice of declaration. The period shown reflects the expiration of the minimum optional period and the maximum optional period.

(8) Charterer may extend the term of the time charters by two additional periods of five and three years, respectively, provided that the charterer gives us advance notice of declaration. The period shown reflects the expiration of the minimum optional period and the maximum optional period.

(9) The vessel is chartered to CNTIC VPower Energy Ltd. (“CNTIC VPower”), an independent Chinese energy company. The charterer may extend the term of the related charter by two additional periods of one year, provided that the charterer gives us advance notice of its exercise of any extension option. The period shown reflects the expiration of the minimum optional period and the maximum optional period.

(10) Charterer may extend the term of the related charter for one extension period of three or five years, provided that the charterer gives us advance notice of its exercise of any extension option. The period shown reflects the expiration of the minimum optional period and the maximum optional period.

(11) Charterer may extend the term of these time charters for a period of five years, provided that the charterer gives us advance notice of declaration.

Additional Vessels

Five-Year Vessel Business Opportunities

GasLog has agreed, and has caused its controlled affiliates (other than us, our general partner and our subsidiaries) to agree, not to acquire, own, operate or charter any LNG carrier with a cargo capacity greater than 75,000 cbm engaged in oceangoing LNG transportation under a charter for five full years or more without, within 30 calendar days after the consummation of the acquisition or the commencement of the operations or charter of such a vessel, notifying us and offering us the opportunity to purchase such vessel at fair market value. We refer to these vessels, together with any related charters, as “Five-Year Vessels”.

Results of Operations

Our results set forth below are derived from the unaudited condensed consolidated financial statements of the Partnership.

Three-month period ended June 30, 2020 compared to the three-month period ended June 30, 2021

(in thousands of U.S. dollars)
	June 30, 2020	June 30, 2021	Change
Revenues	84,448	70,352	(14,096)
Voyage expenses and commissions	(2,782)	(1,852)	930
Vessel operating costs	(16,895)	(20,044)	(3,149)
Depreciation	(20,675)	(20,798)	(123)
General and administrative expenses	(4,421)	(3,488)	933
Impairment loss on vessels	(18,841)	—	18,841
Profit from operations	20,834	24,170	3,336
Financial costs	(13,067)	(9,115)	3,952
Financial income	77	11	(66)
Gain/(loss) on derivatives	369	(403)	(772)
Profit for the period	8,213	14,663	6,450

For the three-month period ended June 30, 2020, we had an average of 15.0 vessels operating in our owned fleet having 1,365 available days, while during the three-month period ended June 30, 2021, we had an average of 15.0 vessels operating in our owned fleet having 1,283 available days, due to increased off-hire days for scheduled dry-dockings (nil dry-docking off-hire days in the three-month period ended June 30, 2020 compared to 82 dry-docking off-hire days in the three-month period ended June 30, 2021).

Revenues: Revenues decreased by $14.0 million, or 16.6%, from $84.4 million for the three-month period ended June 30, 2020 to $70.4 million for the same period in 2021. The decrease is mainly attributable to the expirations of the initial multi-year time charters of three of our Steam vessels with Shell in 2020 and early 2021 (which were at higher rates compared to their current re-contracted rates) and a decrease in revenues resulting from the 82 off-hire days due to the scheduled dry-dockings of three of our vessels in the second quarter of 2021 (compared to none in the same period in 2020). The average daily hire rate decreased from $64,073 for the three-month period ended June 30, 2020to $57,383 for the three-month period ended June 30, 2021.

Vessel Operating Costs: Vessel operating costs increased by $3.1 million, or 18.3%, from $16.9 million for the three-month period ended June 30, 2020 to $20.0 million for the same period in 2021. The increase in vessel operating costs is mainly attributable to an increase of $1.7

16

million in technical maintenance expenses primarily in connection with the dry-dockings of three of our vessels in the second quarter of 2021 (compared to none in the same period in 2020) and an increase of $0.9 million in crew costs, mainly as a result of COVID-19 restrictions (increased costs for travelling and quarantines) and the unfavorable movement of the EUR/USD exchange rate compared to the same period in 2020. Daily operating costs per vessel (after excluding calendar days for the Solaris, the operating costs of which are covered by the charterers) increased from $13,261 per day for the three-month period ended June 30, 2020 to $15,734 per day for the three-month period ended June 30, 2021, which includes dry-docking related costs of $1,109 per day in the three-month period ended June 30 2021.

General and Administrative Expenses: General and administrative expenses decreased by $0.9 million, or 20.5%, from $4.4 million for the three-month period ended June 30, 2020 to $3.5 million for the same period in 2021. The decrease in general and administrative expenses is mainly attributable to a decrease of $0.8 million in administrative services fees, in connection with the decrease of the annual fee payable to GasLog in 2021 by approximately $0.2 million per vessel per year.The decrease in the annual fee was driven by organizational changes and corporate savings at GasLog. As a result, daily general and administrative expenses decreased from $3,238 per vessel ownership day for the three-month period ended June 30, 2020 to $2,554 per vessel ownership day for the three-month period ended June 30, 2021.

Impairment Loss on Vessels: Impairment loss on vessels was $18.8 million for the three-month period ended June 30, 2020 and nil for the same period in 2021.The impairment loss recorded as of June 30, 2020 was recognized with respect to three of the Partnership’s Steam vessels (the Methane Rita Andrea, the Methane Shirley Elisabeth and the Methane Heather Sally), as a result of anticipated increases in volatility in the spot charter market over the near term from COVID-19 pandemic related impacts to LNG and LNG shipping demand.

Financial Costs: Financial costs decreased by $4.0 million, or 30.5%, from $13.1 million for the three-month period ended June 30, 2020 to $9.1 million for the same period in 2021. The decrease in financial costs is mainly attributable to a decrease of $3.8 million in interest expense on loans, due to the lower London Interbank Offered Rate (“LIBOR”) rates in the three months ended June 30, 2021 as compared to the same period in 2020, as well as the reduced debt balances year-over-year. During the three-month period ended June 30, 2020, we had an average of $1,346.2 million of outstanding indebtedness with a weighted average interest rate of 3.4%, compared to an average of $1,261.1 million of outstanding indebtedness with a weighted average interest rate of 2.4% during the three-month period ended June 30, 2021.

Gain/loss on Derivatives: Gain on derivatives decreased by $0.8 million, from a gain of $0.4 million for the three-month period ended June 30, 2020 to a loss of $0.4 million for the same period in 2021. The decrease is attributable to a net increase of $1.3 million in realized loss on derivatives held for trading, partially offset by a net increase of $0.5 million in unrealized gain from the mark-to-market valuation of derivatives held for trading which were carried at fair value through profit or loss.

Profit for the Period: Profit for the period increased by $6.5 million, or 79.3%, from $8.2 million for the three-month period ended June 30, 2020 to $14.7 million for the same period in 2021, as a result of the aforementioned factors.

Six-month period ended June 30, 2020 compared to the six-month period ended June 30, 2021

(in thousands of U.S. dollars)
	June 30, 2020	June 30, 2021	Change
Revenues	175,801	157,440	(18,361)
Voyage expenses and commissions	(6,670)	(3,931)	2,739
Vessel operating costs	(35,988)	(37,851)	(1,863)
Depreciation	(41,273)	(41,484)	(211)
General and administrative expenses	(8,592)	(6,559)	2,033
Impairment loss on vessels	(18,841)	—	18,841
Profit from operations	64,437	67,615	3,178
Financial costs	(28,580)	(18,531)	10,049
Financial income	276	23	(253)
(Loss)/gain on derivatives	(13,751)	916	14,667
Profit for the period	22,382	50,023	27,641

For the six-month period ended June 30, 2020, we had an average of 15.0 vessels operating in our owned fleet having 2,705 available days, while during the six-month period ended June 30, 2021, we had an average of 15.0 vessels operating in our owned fleet having 2,619 available days, mainly due to increased off-hire days for scheduled dry-dockings (25 dry-docking off-hire days in the six-month period ended June 30, 2020 compared to 96 dry-docking off-hire days in the six-month period ended June 30, 2021).

Revenues: Revenues decreased by $18.4 million, or 10.5%, from $175.8 million for the six-month period ended June 30, 2020 to $157.4 million for the same period in 2021. The decrease is mainly attributable to the expirations of the initial multi-year time charters of four of our Steam vessels with Shell in 2020 and early 2021 (which were at higher rates compared to their current re-contracted rates) and a decrease in revenues resulting from the 96 off-hire days due to the scheduled dry-dockings of three of our vessels in the first six months of 2021 (compared to 25 scheduled off-hire days for one vessel in the same period in 2020). The average daily hire rate decreased from $67,851 for the six-month period ended June 30, 2020 to $62,057 for the six-month period ended June 30, 2021.

Voyage Expenses and Commissions: Voyage expenses and commissions decreased by $2.8 million, or 41.8%, from $6.7 million in the six months ended June 30, 2020 to $3.9 million in the six months ended June 30, 2021. The decrease in voyage expenses and commissions is mainly attributable to a decrease in bunker consumption costs due to the increased utilization of our spot fleet in the first six months of 2021, as compared to the same period in 2020.

17

Vessel Operating Costs: Vessel operating costs increased by $1.9 million, or 5.3%, from $36.0 million for the six-month period ended June 30, 2020 to $37.9 million for the same period in 2021. The increase in vessel operating costs is mainly attributable to an increase in crew costs in the first six months of 2021 due to the unfavorable movement of the EUR/USD exchange rate compared to the same period in 2020. As a result, daily operating costs per vessel (after excluding calendar days for the Solaris, the operating costs of which are covered by the charterers) increased from $14,124 per day for the six-month period ended June 30, 2020 to $14,937 per day for the six-month period ended June 30, 2021.

General and Administrative Expenses: General and administrative expenses decreased by $2.0 million, or 23.3%, from $8.6 million for the six-month period ended June 30, 2020 to $6.6 million for the same period in 2021. The decrease in general and administrative expenses is mainly attributable to a decrease of $1.6 million in administrative services fees, in connection with the decrease of the annual fee payable to GasLog in 2021 by approximately $0.2 million per vessel per year. The decrease in the annual fee was driven by organizational changes and corporate savings at GasLog. As a result, daily general and administrative expenses decreased from $3,147 per vessel ownership day for the six-month period ended June 30, 2020 to $2,415 per vessel ownership day for the six-month period ended June 30, 2021.

Impairment Loss on Vessels: Impairment loss on vessels was $18.8 million for the six-month period ended June 30, 2020 and nil for the same period in 2021. The impairment loss recorded as of June 30, 2020 was recognized with respect to three of the Partnership’s Steam vessels (the Methane Rita Andrea, the Methane Shirley Elisabeth and the Methane Heather Sally), as a result of anticipated increases in volatility in the spot charter market over the near term from COVID-19 pandemic related impacts to LNG and LNG shipping demand.

Financial Costs: Financial costs decreased by $10.1 million, or 35.3%, from $28.6 million for the six-month period ended June 30, 2020 to $18.5 million for the same period in 2021. The decrease in financial costs is mainly attributable to a decrease of $9.3 million in interest expense on loans, due to the lower LIBOR rates in the six months ended June 30, 2021 as compared to the same period in 2020, as well as the reduced debt balances year-over-year, and a decrease of $0.5 million in amortization of deferred loan issuance costs. During the six-month period ended June 30, 2020, we had an average of $1,349.2 million of outstanding indebtedness with a weighted average interest rate of 3.7%, compared to an average of $1,274.4 million of outstanding indebtedness with a weighted average interest rate of 2.4% during the six-month period ended June 30, 2021.

Loss/(gain) on Derivatives: Loss on derivatives decreased by $14.7 million, from a loss of $13.8 million for the six-month period ended June 30, 2020 to a gain of $0.9 million for the same period in 2021. The decrease is attributable to a $17.8 million decrease in unrealized loss from the mark-to-market valuation of derivatives held for trading which were carried at fair value through profit or loss, which reflected a loss of $12.2 million in the six months ended June 30, 2020 as compared to a gain of $5.6 million in the six months ended June 30, 2021, partially offset by a net increase of $3.1 million in realized loss on derivatives held for trading.

Profit for the Period: Profit for the period increased by $27.6 million, from $22.4 million for the six-month period ended June 30, 2020 to $50.0 million for the same period in 2021, as a result of the aforementioned factors.

Liquidity and Capital Resources

We operate in a capital-intensive industry and we expect to finance the purchase of any additional vessels or other capital expenditures through a combination of borrowings from commercial banks, cash generated from operations and debt and equity financings, if any. In addition to paying distributions and potentially repurchasing common units, our other liquidity requirements relate to paying our operating and general and administrative expenses, servicing our debt, funding investments, funding working capital and maintaining cash reserves against fluctuations in operating cash flows. Our funding and treasury activities are intended to maximize investment returns while maintaining appropriate liquidity and complying with our financial covenants under our debt facilities.

In the three and six months ended June 30, 2021, under our ATM Common Equity Offering Programme (“ATM Programme”), we issued and received payment for 3,195,401 common units at a weighted average price of $3.19 per common unit for total gross proceeds of $10.2 million and net proceeds of $10.0 million, after broker commissions. During this period, we also issued 56,158 general partner units to our general partner in order for GasLog to retain its 2.0% general partner interest. The net proceeds from the issuance of the general partner units were $0.2 million.

In the three and six months ended June 30, 2021, there were no repurchases of our common units.

As of June 30, 2021, we had $119.8 million of cash and cash equivalents, out of which $62.9 million was held in current accounts and $56.9 million was held in time deposits with an original duration of less than three months.An additional amount of $2.5 million of time deposits with an original duration greater than three months was classified under short-term investments.

As of June 30, 2021, we had an aggregate of $1,233.1 million of borrowings outstanding under our credit facilities, of which $105.1 million was repayable within one year. In addition, as of June 30, 2021, we had unused availability under our revolving credit facility with GasLog of $30.0 million, which matures in March 2022.

As of June 30, 2021, the Partnership had in place seven interest rate swap agreements at a notional value of $473.3 million in aggregate, maturing between 2021 and 2025. As a result of its hedging agreements, the Partnership has hedged 37.9% of its floating interest rate exposure on its outstanding debt as of June 30, 2021, at a weighted average interest rate of approximately 2.2% (excluding margin).

Working Capital Position

As of June 30, 2021, our current assets totaled $141.6 million and current liabilities totaled $183.2 million, resulting in a negative working

18

capital position of $41.6 million. Current liabilities include $25.3 million of unearned revenue in relation to hires received in advance (which represents a non-cash liability that will be recognized as revenues in July 2021 as the services are rendered).

Management monitors the Partnership’s liquidity position throughout the year to ensure that it has access to sufficient funds to meet its forecast cash requirements, including debt service commitments, and to monitor compliance with the financial covenants within its loan facilities. We anticipate that our primary sources of funds for at least twelve months from the date of this report will be available cash, cash from operations and existing debt facilities. We believe that these anticipated sources of funds, as well as our ability to access the capital markets if needed, will be sufficient to meet our liquidity needs and comply with our banking covenants for at least twelve months from the date of this report.

Cash Flows

Six-month period ended June 30, 2020 compared to the six-month period ended June 30, 2021

The following table summarizes our net cash flows from operating, investing and financing activities for the periods indicated:

(in thousands of U.S. dollars)	Six months ended
	June 30, 2020	June 30, 2021	Change
Net cash provided by operating activities	110,058	113,017	2,959
Net cash used in investing activities	(11,720)	(14,718)	(2,998)
Net cash used in financing activities	(123,012)	(82,219)	40,793

Net Cash provided by Operating Activities:

Net cash provided by operating activities increased by $2.9 million, from $110.1 million in the six-month period ended June 30, 2020 to $113.0 million in the six-month period ended June 30, 2021. The increase of $2.9 million is mainly attributable to a $18.5 million movement in working capital accounts (primarily affected by an increase of $12.9 million from unearned revenue movements) and a net decrease of $2.9 million in vessel operating costs, voyage expenses and commissions and general and administrative expenses. These increases were partially offset by a decrease of $18.4 million in revenues.

Net Cash used in Investing Activities:

Net cash used in investing activities increased by $3.0 million, from $11.7 million in the six-month period ended June 30, 2020 to $14.7 million in the six-month period ended June 30, 2021. The increase of $3.0 million is mainly attributable to an increase in net cash used in short-term investments of $2.5 million.

Net Cash used in Financing Activities:

Net cash used in financing activities decreased by $40.8 million, from $123.0 million in the six-month period ended June 30, 2020 to $82.2 million in the six-month period ended June 30, 2021. The decrease of $40.8 million is attributable to a decrease of $31.8 million in distributions paid, a decrease of $15.3 million in net payments for cash collateral for interest rate swaps, an increase in proceeds from equity raisings and issuance of general partner units of $10.2 million, a decrease of $7.5 million in interest paid, a decrease of $1.0 million in cash used for repurchases of common units and a decrease of $0.9 million in bank loan repayments, partially offset by a decrease in bank loan drawdowns of $25.9 million.

Contracted Charter Revenues

The following table summarizes GasLog Partners’ contracted charter revenues and vessel utilization after June 30, 2021:

	After
	June 30,			For the years ending December 31,
	2021			2022			2023			2024			2025-2026			Total
	(in millions of U.S. dollars, except days and percentages)
Contracted time charter revenues(1)(2)(3)(4)	$	142.3		$	217.0		$	149.9		$	70.4		$	83.3		$	662.9
Total contracted days(1)(2)		2,427			3,521			2,016			823			970			9,757
Total available days(5)		2,692			5,475			5,355			5,460			10,650			29,632
Total unfixed days(6)		265			1,954			3,339			4,637			9,680			19,875
Percentage of total contracted days/total available days		90.2	%		64.3	%		37.6	%		15.1	%		9.1	%		32.9	%

After giving effect to the charter parties signed from June 30, 2021 until July 26, 2021, the percentage of total contracted days to total available days for the remainder of 2021 and 2022 increased to 100.0% and 69.2%, respectively.

(1) Reflects time charter revenues and contracted days for the 15 LNG carriers in our fleet as of June 30, 2021.

(2) Our ships are scheduled to undergo dry-docking once every five years. Revenue calculations assume 365 revenue days per ship per annum, with 30 off-hire days when each ship undergoes scheduled dry-docking.

(3) For time charters that include a variable rate of hire within an agreed range during the charter period, revenue calculations are based on the agreed minimum rate of hire for the respective period.

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(4) Revenue calculations assume no exercise of any option to extend the terms of the charters.

(5) Available days represent total calendar days after deducting 30 off-hire days when the ship undergoes scheduled dry-docking.

(6) Represents available days for the ships after the expiration of the existing charters (assuming charterers do not exercise any option to extend the terms of the charters).

The table above provides information about our contracted charter revenues and ship utilization based on contracts in effect for the 15 LNG carriers in our fleet as of June 30, 2021. The table reflects only our contracted charter revenues for the ships in our owned fleet for which we have secured time charters, and it does not reflect the costs or expenses we will incur in fulfilling our obligations under the charters. In particular, the table does not reflect time charter revenues from any additional ships we may acquire in the future, nor does it reflect the options under our time charters that permit our charterers to extend the time charter terms for successive multi-year periods at comparable charter hire rates. If exercised, the options to extend the terms of our existing charters would result in an increase in the number of contracted days and the contracted revenue for our fleet in the future. Although the contracted charter revenues are based on contracted charter hire rate provisions, they reflect certain assumptions, including assumptions relating to future ship operating costs. We consider the assumptions to be reasonable as of the date of this report, but if these assumptions prove to be incorrect, our actual time charter revenues could differ from those reflected in the table. Furthermore, any contract is subject to various risks, including non-performance by the counterparties or an early termination of the contract pursuant to its terms. If the charterers are unable or unwilling to make charter payments to us, or if we agree to renegotiate charter terms at the request of a charterer or if contracts are prematurely terminated for any reason, we would be exposed to prevailing market conditions at the time and our results of operations and financial condition may be materially adversely affected. Please see the disclosure under the heading “Risk Factors” in our Annual Report on Form 20-F filed with the SEC on March 2, 2021. For these reasons, the contracted charter revenue information presented above is not fact and should not be relied upon as being necessarily indicative of future results and readers are cautioned not to place undue reliance on this information. Neither the Partnership’s independent auditors, nor any other independent accountants, have compiled, examined or performed any procedures with respect to the information presented in the table, nor have they expressed any opinion or any other form of assurance on such information or its achievability, and assume no responsibility for, and disclaim any association with, the information in the table.

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EX-99.3

Exhibit 99.3

GASLOG PARTNERS LP

INDEX TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

	Page
Unaudited condensed consolidated statements of financial position as of December 31, 2020 and June 30, 2021	F-2
Unaudited condensed consolidated statements of profit or loss and total comprehensive income for the three and six months ended June 30, 2020 and 2021	F-3
Unaudited condensed consolidated statements of changes in partners’ equity for the six months ended June 30, 2020 and 2021	F-4
Unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2020 and 2021	F-5
Notes to the unaudited condensed consolidated financial statements	F-6

F-1

GasLog Partners LP

Unaudited condensed consolidated statements of financial position

As of December 31, 2020 and June 30, 2021

(All amounts expressed in thousands of U.S. Dollars, except unit data)

		December 31,	June 30,
	Note	2020	2021
Assets
Non-current assets
Other non-current assets		186	88
Tangible fixed assets	4	2,206,618	2,174,891
Right-of-use assets		516	602
Total non-current assets		2,207,320	2,175,581
Current assets
Trade and other receivables		16,265	13,948
Inventories		3,036	3,146
Prepayments and other current assets		2,691	2,171
Short-term investments		—	2,500
Cash and cash equivalents		103,736	119,816
Total current assets		125,728	141,581
Total assets		2,333,048	2,317,162
Partners’ equity and liabilities
Partners’ equity
Common unitholders (47,517,824 units issued and outstanding as of December 31, 2020 and 50,722,201 units issued and outstanding as of June 30, 2021)	5	594,901	637,843
General partner (1,021,336 units issued and outstanding as of December 31, 2020 and 1,077,494 units issued and outstanding as of June 30, 2021)	5	11,028	11,949
Preference unitholders (5,750,000 Series A Preference Units, 4,600,000 Series B Preference Units and 4,000,000 Series C Preference Units issued and outstanding as of December 31, 2020 and June 30, 2021)	5	347,889	347,889
Total partners’ equity		953,818	997,681
Current liabilities
Trade accounts payable		13,578	13,222
Due to related parties	3	7,525	1,466
Derivative financial instruments—current portion	11	8,185	7,632
Other payables and accruals	7	50,679	55,447
Borrowings—current portion	6	104,908	105,065
Lease liabilities-current portion		332	363
Total current liabilities		185,207	183,195
Non-current liabilities
Derivative financial instruments—non-current portion	11	12,152	7,136
Borrowings—non-current portion	6	1,180,635	1,128,079
Lease liabilities-non-current portion		112	197
Other non-current liabilities		1,124	874
Total non-current liabilities		1,194,023	1,136,286
Total partners’ equity and liabilities		2,333,048	2,317,162

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-2

GasLog Partners LP

Unaudited condensed consolidated statements of profit or loss and total comprehensive income

For the three and six months ended June 30, 2020 and 2021

(All amounts expressed in thousands of U.S. Dollars, except per unit data)

		For the three months ended		For the six months ended
	Note	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Revenues	8	84,448	70,352	175,801	157,440
Voyage expenses and commissions		(2,782)	(1,852)	(6,670)	(3,931)
Vessel operating costs	10	(16,895)	(20,044)	(35,988)	(37,851)
Depreciation	4	(20,675)	(20,798)	(41,273)	(41,484)
General and administrative expenses	9	(4,421)	(3,488)	(8,592)	(6,559)
Impairment loss on vessels		(18,841)	—	(18,841)	—
Profit from operations		20,834	24,170	64,437	67,615
Financial costs	12	(13,067)	(9,115)	(28,580)	(18,531)
Financial income		77	11	276	23
Gain/(loss) on derivatives	12	369	(403)	(13,751)	916
Total other expenses, net		(12,621)	(9,507)	(42,055)	(17,592)
Profit and total comprehensive income for the period		8,213	14,663	22,382	50,023
Earnings per unit, basic and diluted:	13
Common unit, basic		0.01	0.14	0.15	0.71
Common unit, diluted		0.01	0.14	0.14	0.68
General partner unit		0.01	0.14	0.15	0.72

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-3

GasLog Partners LP

Unaudited condensed consolidated statements of changes in partners’ equity

For the six months ended June 30, 2020 and 2021

(All amounts expressed in thousands of U.S. Dollars, except unit data)

					Class B	Preference		Total
	General partner		Common unitholders		unitholders	unitholders		Partners’
	Units	Amounts	Units	Amounts	Units	Units	Amounts	equity
Balance as of January 1, 2020	1,021,336	11,271	46,860,182	606,811	2,490,000	14,350,000	347,889	965,971
Equity offering costs	—	—	—	(114)	—	—	—	(114)
Settlement of awards vested during the period	—	—	68,432	—	—	—	—	—
Repurchases of common units	—	—	(191,490)	(996)	—	—	—	(996)
Distributions declared	—	(702)	—	(32,019)	—	—	(15,164)	(47,885)
Share-based compensation, net of accrued distribution	—	11	—	482	—	—	—	493
Partnership’s profit and total comprehensive income (Note 13)	—	155	—	7,063	—	—	15,164	22,382
Balance as of June 30, 2020	1,021,336	10,735	46,737,124	581,227	2,490,000	14,350,000	347,889	939,851
Balance as of January 1, 2021	1,021,336	11,028	47,517,824	594,901	2,075,000	14,350,000	347,889	953,818
Net proceeds from public offerings of common units and issuances of general partner units (Note 5)	56,158	205	3,195,401	9,593	—	—	—	9,798
Settlement of awards vested during the period	—	—	8,976	—	—	—	—	—
Distributions declared (Note 5)	—	(20)	—	(950)	—	—	(15,164)	(16,134)
Share-based compensation, net of accrued distribution	—	4	—	172	—	—	—	176
Partnership’s profit and total comprehensive income (Note 13)	—	732	—	34,127	—	—	15,164	50,023
Balance as of June 30, 2021	1,077,494	11,949	50,722,201	637,843	2,075,000	14,350,000	347,889	997,681

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-4

GasLog Partners LP

Unaudited condensed consolidated statements of cash flows

For the six months ended June 30, 2020 and 2021

(All amounts expressed in thousands of U.S. Dollars)

		For the six months ended
		June 30,	June 30,
	Note	2020	2021
		(restated)(1)
Cash flows from operating activities:
Profit for the period		22,382	50,023
Adjustments for:
Depreciation	4	41,273	41,484
Impairment loss on vessels		18,841	—
Financial costs	12	28,580	18,531
Financial income		(276)	(23)
Loss/(gain) on derivatives (excluding realized loss on forward foreign exchange contracts held for trading)	12	13,342	(916)
Share-based compensation	9	659	167
		124,801	109,266
Movements in working capital		(14,743)	3,751
Net cash provided by operating activities		110,058	113,017
Cash flows from investing activities:
Payments for tangible fixed assets additions		(12,027)	(12,241)
Financial income received		307	23
Purchase of short-term investments		—	(2,500)
Net cash used in investing activities		(11,720)	(14,718)
Cash flows from financing activities:
Borrowings drawdowns	6	25,940	—
Borrowings repayments	6	(55,805)	(54,838)
Interest paid		(28,834)	(21,384)
Payments of cash collateral for interest rate swaps		(15,000)	—
Release of cash collateral for interest rate swaps		—	280
Payment of loan issuance costs		(189)	—
Proceeds from public offerings of common units and issuances of general partner units (net of underwriting discounts and commissions)	5	—	10,205
Repurchases of common units		(996)	—
Payment of offering costs		(15)	(124)
Distributions paid	5	(47,885)	(16,134)
Payments for lease liabilities		(228)	(224)
Net cash used in financing activities		(123,012)	(82,219)
(Decrease)/increase in cash and cash equivalents		(24,674)	16,080
Cash and cash equivalents, beginning of the period		96,884	103,736
Cash and cash equivalents, end of the period		72,210	119,816
Non-cash investing and financing activities:
Capital expenditures included in liabilities at the end of the period		10,501	10,523
Financing costs included in liabilities at the end of the period		142	—
Offering costs included in liabilities at the end of the period		113	283
Liabilities related to leases at the end of the period		72	—

(1) Restated so as to reflect a change in accounting policy introduced on January 1, 2021, with respect to the reclassification of interest paid and movements of cash collateral for interest rate swaps (Note 2).

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

F-5

GasLog Partners LP

Notes to the unaudited condensed consolidated financial statements

For the six months ended June 30, 2020 and 2021

(All amounts expressed in thousands of U.S. Dollars, except unit data)

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, as a wholly owned subsidiary of GasLog Ltd. (“GasLog” or the “Parent”) for the purpose of initially acquiring the interests in three liquefied natural gas (“LNG”) carriers (or the “Initial Fleet”) that were contributed to the Partnership by GasLog in connection with the initial public offering of its common units (the “IPO”).

As of June 30, 2021, GasLog holds a 33.3% 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.

The Partnership’s principal business is the acquisition and operation of LNG vessels, providing LNG transportation services on a worldwide basis primarily under multi-year charters. 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. As of June 30, 2021, the Partnership owned 15 LNG vessels.

The accompanying unaudited condensed consolidated financial statements include the financial statements of GasLog Partners and its subsidiaries, which are 100% owned by the Partnership. No new subsidiaries were established or acquired in the six months ended June 30, 2021.

2. Basis of Presentation

These unaudited condensed consolidated financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting as issued by the International Accounting Standards Board (“IASB”). Certain information and footnote disclosures required by IFRS for a complete set of annual financial statements have been omitted, and, therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the Partnership’s annual consolidated financial statements for the year ended December 31, 2020, filed on an Annual Report on Form 20-F with the Securities Exchange Commission on March 2, 2021.

The unaudited condensed consolidated financial statements have been prepared on the historical cost basis, except for the revaluation of derivative financial instruments. The same accounting policies and methods of computation have been followed in these unaudited condensed consolidated financial statements as applied in the preparation of the Partnership’s consolidated financial statements for the year ended December 31, 2020, with the exception of a reclassification in the consolidated statements of cash flows that is described below. On July 27, 2021, the Partnership’s board of directors authorized the unaudited condensed consolidated financial statements for issuance.

Until December 31, 2020, interest paid and movements of cash collateral were presented in the consolidated statement of cash flows under cash provided by operating activities. IAS 7 Cash Flow Statement does not dictate how interest cash flows should be classified, but rather allows an entity to determine the classification appropriate to its business. The standard permits entities to present payments for interest under either operating or financing activities, provided that the elected presentation is applied consistently from period to period. In 2021, management, after reviewing the Exposure Draft General Presentation and Disclosures issued by the IASB in December 2019, elected to reclassify interest paid including cash paid for interest rate swaps held for trading and the movements of cash collateral related to the Partnership’s interest rate swaps under cash used in financing activities, in conformity with the proposal of the Exposure Draft to reduce presentation alternatives and classify interest paid as a cash flow arising from financing activities. Management believes that the revised classification provides more relevant information to users, as it better reflects management’s view of the financing nature of these transactions. Comparative figures have been retrospectively adjusted to reflect this change in policy in the statement of cash flows, as follows:

	Six months ended June 30, 2020
	As previously reported	Adjustments	As restated
Net cash provided by operating activities	66,224	43,834	110,058
Net cash used in investing activities	(11,720)	—	(11,720)
Net cash used in financing activities	(79,178)	(43,834)	(123,012)
Decrease in cash and cash equivalents	(24,674)	—	(24,674)

The critical accounting judgments and key sources of estimation uncertainty were disclosed in the Partnership’s annual consolidated financial statements for the year ended December 31, 2020 and remain unchanged.

The unaudited condensed consolidated financial statements are expressed in thousands of U.S. Dollars (“USD”), which is the functional currency of the Partnership and each of its subsidiaries because their vessels operate in international shipping markets, in which revenues and expenses are primarily settled in USD and the Partnership’s most significant assets and liabilities are paid for and settled in USD.

As of June 30, 2021, the Partnership’s current assets totaled $141,581 while current liabilities totaled $183,195, resulting in a negative working capital position of $41,614. Current liabilities include an amount of $25,305 of unearned revenue in relation to vessel hires received in

F-6

advance (which represents a non-cash liability that will be recognized as revenues in July 2021 as the services are rendered). In considering going concern, management has reviewed the Partnership’s future cash requirements, covenant compliance and earnings projections, incorporating the negative impact of the COVID-19 pandemic on near-term market rates.

Management monitors the Partnership’s liquidity position throughout the year to ensure that it has access to sufficient funds to meet its forecast cash requirements, including debt service commitments, and to monitor compliance with the financial covenants within its loan facilities. Management anticipates that the Partnership’s primary sources of funds for at least twelve months from the date of this report will be available cash, cash from operations and existing debt facilities. Management believes that these anticipated sources of funds, as well as its ability to access the capital markets if needed, will be sufficient for the Partnership to meet its liquidity needs and comply with its banking covenants for at least twelve months from the date of this report and therefore it is appropriate to prepare the financial statements on a going concern basis. Additionally, the Partnership may enter into new debt facilities in the future, as well as public equity or debt instruments, although there can be no assurance that the Partnership will be able to obtain additional debt or equity financing on terms acceptable to the Partnership, which will also depend on financial, commercial and other factors, as well as a significant recovery in capital market conditions and a sustainable improvement in the LNG charter market, that are beyond the Partnership’s control.

Adoption of new and revised IFRS

(a)  Standards and interpretations adopted in the current period

In August 2020, the IASB issued the Phase 2 amendments to IFRS 9 Financial Instruments, IFRS 7 Financial Instruments: Disclosures, IFRS 4 and IFRS 16 in connection with the Phase 2 of the interest rate benchmark reform. The amendments address the issues arising from the implementation of the reforms, including the replacement of one benchmark with an alternative one. The amendment is effective for annual periods beginning on or after January 1, 2021. Management anticipates that this amendment will not have a material impact on the Partnership’s consolidated financial statements.

There were no other IFRS standards or amendments that became effective in the current period which were relevant to the Partnership or material with respect to the Partnership’s financial statements.

(b)  Standards and amendments in issue not yet adopted

In January 2020, the IASB issued a narrow-scope amendment to IAS 1 Presentation of Financial Statements, to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Classification is unaffected by the expectations of the entity or events after the reporting date (for example, the receipt of a waiver or a breach of covenant). The amendment also defines the “settlement” of a liability as the extinguishment of a liability with cash, other economic resources or an entity’s own equity instruments. The amendment will be effective for annual periods beginning on or after January 1, 2022 and should be applied retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Earlier application is permitted. Management anticipates that this amendment will not have a material impact on the Partnership’s financial statements.

At the date of authorization of these unaudited condensed consolidated financial statements, there were no other IFRS standards and amendments issued but not yet adopted with an expected material effect on the Partnership’s financial statements.

3. Related party transactions

The Partnership has the following balances with related parties, which have been included in the unaudited condensed consolidated statements of financial position:

Amounts due to related parties
	December 31, 2020	June 30, 2021
Due to GasLog LNG Services (a)	7,361	1,392
Due to GasLog (b)	164	74
Total	7,525	1,466

(a) The balances represent mainly payments made by GasLog LNG Services on behalf of the Partnership.

(b) The balances represent mainly payments made by GasLog on behalf of the Partnership.

Loans due to related parties

The main terms of the revolving credit facility of $30,000 with GasLog (the “Sponsor Credit Facility”) have been disclosed in the annual consolidated financial statements for the year ended December 31, 2020. Refer to Note 6 “Borrowings”.

As of December 31, 2020 and June 30, 2021, the amount outstanding under the Sponsor Credit Facility was nil.

F-7

The main terms of the Partnership’s related party transactions, including the commercial management agreements, administrative services agreement and ship management agreements with GasLog and GasLog LNG Services, have been disclosed in the annual consolidated financial statements for the year ended December 31, 2020. Refer to Note 13 “Related Party Transactions”.

The Partnership had the following transactions with such related parties, which have been included in the unaudited condensed consolidated statements of profit or loss for the three and six months ended June 30, 2020 and 2021:

			For the three months ended		For the six months ended
Company	Details	Account	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
GasLog/ GasLog LNG Services(i)	Commercial management fees	General and administrative expenses	1,350	1,350	2,700	2,700
GasLog	Administrative services fees(ii)	General and administrative expenses	1,959	1,177	3,919	2,354
GasLog LNG Services	Management fees	Vessel operating costs	1,932	1,932	3,864	3,864
GasLog LNG Services	Other vessel operating costs	Vessel operating costs	20	—	30	10
GasLog	Commitment fee under Sponsor Credit Facility	Financial costs	76	76	152	151
GasLog	Realized loss on interest rate swaps held for trading (Note 12)	Gain/(loss) on derivatives	832	1,373	1,125	2,692
GasLog	Realized loss on forward foreign exchange contracts held for trading (Note 12)	Gain/(loss) on derivatives	234	—	409	—

(i) Effective July 21, 2020 and October 1, 2020, the commercial management agreements between the vessel-owning entities and GasLog were novated to GasLog LNG Services as the provider of commercial management services.

(ii) Effective January 1, 2021, the administrative services fee was reduced to $314 per vessel per year, from $523 effective since January 1, 2020.

4. Tangible Fixed Assets

The movement in tangible fixed assets (i.e. vessels and their associated depot spares) is reported in the following table:

		Other tangible	Total tangible fixed
	Vessels	assets	assets
Cost
As of January 1, 2021	2,873,829	2,719	2,876,548
Additions	9,503	—	9,503
Fully amortized dry-docking component	(8,626)	—	(8,626)
As of June 30, 2021	2,874,706	2,719	2,877,425
Accumulated depreciation
As of January 1, 2021	669,930	—	669,930
Depreciation expense	41,230	—	41,230
Fully amortized dry-docking component	(8,626)	—	(8,626)
As of June 30, 2021	702,534	—	702,534
Net book value
As of December 31, 2020	2,203,899	2,719	2,206,618
As of June 30, 2021	2,172,172	2,719	2,174,891

All vessels have been pledged as collateral under the terms of the Partnership’s credit facilities.

As of June 30, 2021, the Partnership concluded that there were no events or circumstances triggering the existence of potential impairment or reversal of impairment of its vessels.

F-8

5. Partners’ Equity

The Partnership’s cash distributions for the six months ended June 30, 2021 are presented in the following table:

Declaration date	Type of units	Distribution per unit		Payment date	Amount paid
January 27, 2021	Common	$	0.01	February 11, 2021		485
February 19, 2021	Preference (Series A, B, C)	$	0.5390625, $0.5125, $0.53125	March 15, 2021		7,582
April 28, 2021	Common	$	0.01	May 13, 2021		485
May 13, 2021	Preference (Series A, B, C)	$	0.5390625, $0.5125, $0.53125	June 14, 2021		7,582
				Total	$	16,134

On April 6, 2021, GasLog Partners issued 8,976 common units in connection with the vesting of 5,984 Restricted Common Units (“RCUs”) and 2,992 Performance Common Units (“PCUs”) under its 2015 Long-Term Incentive Plan (the “2015 Plan”).

In addition, under the Partnership’s ATM Common Equity Offering Programme (“ATM Programme”), there was an issuance of 3,195,401 additional common units in the six months ended June 30, 2021, for total net proceeds of $9,593. During this period, the Partnership also issued 56,158 general partner units to its general partner in order for GasLog to retain its 2.0% general partner interest for net proceeds of $205.

6. Borrowings

	December 31,	June 30,
	2020	2021
Amounts due within one year	109,673	109,673
Less: unamortized deferred loan issuance costs	(4,765)	(4,608)
Borrowings - current portion	104,908	105,065
Amounts due after one year	1,195,241	1,140,403
Less: unamortized deferred loan issuance costs	(14,606)	(12,324)
Borrowings - non-current portion	1,180,635	1,128,079
Total	1,285,543	1,233,144

The main terms of the credit facilities, including financial covenants, and the Sponsor Credit Facility have been disclosed in the annual consolidated financial statements for the year ended December 31, 2020. Refer to Note 6 “Borrowings”.

In the six months ended June 30, 2021, the Partnership repaid $54,838 in accordance with the repayment terms under its credit facilities. In connection with the de-listing of the Parent’s common shares from the New York Stock Exchange completed in June 2021, supplemental agreements have been signed with certain of the Partnership’s lenders with respect to clauses relating to its Parent, GasLog. All costs relating to such amendments have been covered by GasLog directly.

GasLog Partners was in compliance with its financial covenants as of June 30, 2021.

7. Other Payables and Accruals

An analysis of other payables and accruals is as follows:

	December 31,	June 30,
	2020	2021
Unearned revenue	25,828	25,305
Accrued off-hire	1,802	6,748
Accrued purchases	4,187	7,999
Accrued interest	10,855	10,281
Other accruals	8,007	5,114
Total	50,679	55,447

8. Revenues

The Partnership has recognized the following amounts relating to revenues:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Revenues from long-term time charters	63,925	42,881	131,570	92,915
Revenues from spot time charters	20,523	27,471	44,231	64,525
Total	84,448	70,352	175,801	157,440

F-9

The Partnership defines long-term time charters as charter party agreements with an initial duration of more than five years (excluding any optional periods), while all charter party agreements of an initial duration of less than (or equal to) five years (excluding any optional periods) are classified as spot time charters.

9. General and Administrative Expenses

An analysis of general and administrative expenses is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Administrative services fees (Note 3)	1,959	1,177	3,919	2,354
Commercial management fees (Note 3)	1,350	1,350	2,700	2,700
Share-based compensation	362	94	659	167
Other expenses	750	867	1,314	1,338
Total	4,421	3,488	8,592	6,559

10. Vessel Operating Costs

An analysis of vessel operating costs is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Crew costs	8,780	9,675	17,619	18,647
Technical maintenance expenses	4,142	5,848	10,079	10,214
Other operating expenses	3,973	4,521	8,290	8,990
Total	16,895	20,044	35,988	37,851

11. Derivative Financial Instruments

The fair value of the Partnership’s derivative liabilities is as follows:

	December 31,	June 30,
	2020	2021
Derivative liabilities carried at fair value through profit or loss (FVTPL)
Interest rate swaps	20,337	14,768
Total	20,337	14,768
Derivative financial instruments, current liability	8,185	7,632
Derivative financial instruments, non-current liability	12,152	7,136
Total	20,337	14,768

Interest rate swap agreements

The Partnership enters into interest rate swap agreements which convert the floating interest rate exposure into a fixed interest rate in order to hedge a portion of the Partnership’s exposure to fluctuations in prevailing market interest rates. Under the interest rate swaps, the counterparty effects quarterly floating-rate payments to the Partnership for the notional amount based on the three-month USD London Interbank Offered Rate (“LIBOR”), and the Partnership effects quarterly payments to the counterparty on the notional amount at the respective fixed rates.

Interest rate swaps held for trading

The principal terms of the Partnership’s interest rate swaps held for trading as of December 31, 2020 have been disclosed in the annual audited consolidated financial statements for the year ended December 31, 2020. Refer to Note 17 “Derivative Financial Instruments”.

The derivative instruments of the Partnership were not designated as cash flow hedging instruments as of June 30, 2021. The change in the fair value of the interest rate swaps for the three and six months ended June 30, 2021 amounted to a gain of $1,962 and a gain of $5,569, respectively (for the three and six months ended June 30, 2020, a gain of $1,034 and a loss of $12,148, respectively), which was recognized in profit or loss in the period incurred and is included in Gain/(loss) on derivatives. During the three and six months ended June 30, 2021, the gain of $1,962 and $5,569, respectively (Note 12), was attributable to changes in the USD LIBOR yield curve, which was used to calculate the present value of the estimated future cash flows, resulting in a decrease in derivative liabilities from interest rate swaps held for trading.

Forward foreign exchange contracts

The Partnership uses non-deliverable forward foreign exchange contracts to mitigate foreign exchange transaction exposures in Euros (“EUR”) and Singapore Dollars (“SGD”). Under these non-deliverable forward foreign exchange contracts, the counterparties settle the difference between the

F-10

fixed exchange rate and the prevailing rate on the agreed notional amounts on the respective settlement dates. All forward foreign exchange contracts are considered by management to be part of economic hedge arrangements but have not been formally designated as such.

Forward foreign exchange contracts held for trading

During the six months ended June 30, 2021, the Partnership did not enter any new forward foreign exchange contracts and the change in the fair value of forward foreign exchange contracts for the three and six months ended June 30, 2021 was nil. The change in the fair value of such contracts for the three and six months ended June 30, 2020 amounted to a gain of $401 and a loss of $69, respectively, which was recognized in profit or loss in the period incurred and is included in Gain/(loss) on derivatives (Note 12).

12. Financial Costs and Gain/(loss) on Derivatives

An analysis of financial costs is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Amortization and write-off of deferred loan issuance costs	1,480	1,215	2,985	2,439
Interest expense on loans	11,466	7,716	24,900	15,599
Lease expense	9	4	19	9
Commitment fees	78	76	208	151
Other financial costs including bank commissions	34	104	468	333
Total financial costs	13,067	9,115	28,580	18,531

An analysis of (gain)/loss on derivatives is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Unrealized (gain)/loss on interest rate swaps held for trading (Note 11)	(1,034)	(1,962)	12,148	(5,569)
Unrealized (gain)/loss on forward foreign exchange contracts held for trading (Note 11)	(401)	—	69	—
Realized loss on interest rate swaps held for trading	832	2,365	1,125	4,653
Realized loss on forward foreign exchange contracts held for trading	234	—	409	—
Total (gain)/loss on derivatives	(369)	403	13,751	(916)

13. Earnings per Unit (“EPU”)

The Partnership calculates earnings per unit by allocating reported profit for each period to each class of units based on the distribution policy for available cash stated in the Partnership Agreement.

Basic earnings per unit is determined by dividing profit for the period, after deducting preference unit distributions, by the weighted average number of units outstanding during the period. Diluted earnings per unit is calculated by dividing the profit of the period attributable to common unitholders by the weighted average number of potential ordinary common units assumed to have been converted into common units, unless such potential ordinary common units have an antidilutive effect.

F-11

Earnings per unit is presented for the period in which the units were outstanding, with earnings calculated as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period and Partnership’s profit	8,213	14,663	22,382	50,023
Adjustment for:
Paid and accrued preference unit distributions	(7,582)	(7,582)	(15,164)	(15,164)
Partnership’s profit attributable to:	631	7,081	7,218	34,859
Common unitholders	617	6,933	7,063	34,127
General partner	14	148	155	732
Weighted average number of units outstanding (basic)
Common units	46,713,991	48,161,285	46,739,034	47,841,332
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Earnings per unit (basic)
Common unitholders	0.01	0.14	0.15	0.71
General partner	0.01	0.14	0.15	0.72
Weighted average number of units outstanding (diluted)
Common units*	49,460,033	50,425,047	49,402,714	50,016,601
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Earnings per unit (diluted)
Common unitholders	0.01	0.14	0.14	0.68
General partner	0.01	0.14	0.15	0.72

* Includes unvested awards with respect to the 2015 Plan and Class B units. After the conversion of the first tranche of 415,000 Class B units on July 1, 2020, the remaining 2,075,000 Class B units will become eligible for conversion on a one-for-one basis into common units at GasLog’s option in five tranches of 415,000 units per annum on July 1 of 2021 (Note 15), 2022, 2023, 2024 and 2025.

14. Commitments and Contingencies

Future gross minimum lease payments receivable in relation to non-cancellable time charter agreements for vessels in operation as of June 30, 2021 are as follows (30 off-hire days are assumed when each vessel will undergo scheduled dry-docking; in addition, early redelivery of the vessels by the charterers or any exercise of the charterers’ options to extend the terms of the charters are not accounted for):

Period	June 30, 2021
Not later than one year		200,081
Later than one year and not later than two years		133,425
Later than two years and not later than three years		83,232
Later than three years and not later than four years		50,280
Later than four years and not later than five years		41,879
Total	$	508,897

In September 2017 and July 2018, GasLog LNG Services entered into maintenance agreements with Wartsila Greece S.A. in respect of eight of the Partnership’s LNG carriers. The agreements ensure dynamic maintenance planning, technical support, security of spare parts supply, specialist technical personnel and performance monitoring.

In March 2019, GasLog LNG Services entered into an agreement with Samsung Heavy Industries Co., Ltd. (“Samsung”) in respect of eleven of the Partnership’s LNG carriers. The agreement covers the supply of ballast water management systems on board the vessels by Samsung and associated field, commissioning and engineering services for a firm period of six years. As of June 30, 2021, ballast water management systems had been installed on seven out of the eleven vessels.

Various claims, suits and complaints, including those involving government regulations, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, environmental claims, agents and insurers and from claims with suppliers relating to the operations of the Partnership’s vessels. Currently, management is not aware of any such claims or contingent liabilities requiring disclosure in the consolidated financial statements.

15. Subsequent Events

On July 1, 2021, GasLog Partners issued 415,000 common units in connection with GasLog’s option to convert the second tranche of its Class B units issued upon the elimination of incentive distributions rights in June 2019.

On July 26, 2021, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $0.01 per common unit for the quarter ended June 30, 2021. The cash distribution is payable on August 12, 2021 to all unitholders of record as of August 9, 2021. The aggregate amount of the declared distribution will be $518 based on the number of units issued and outstanding as of June 30, 2021.

F-12

On July 26, 2021, the board of directors of GasLog Partners approved and declared a distribution on the Series A Preference Units of $0.5390625 per preference unit, a distribution on the Series B Preference Units of $0.5125 per preference unit and a distribution on the Series C Preference Units of $0.53125 per preference unit. The cash distributions are payable on September 15, 2021 to all unitholders of record as of September 8, 2021.

F-13

XML

Document and Entity Information	6 Months Ended
	Jun. 30, 2021
Document and Entity Information
Entity Registrant Name	GasLog Partners LP
Entity Central Index Key	0001598655
Document Type	6-K
Document Period End Date	Jun. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

XML

Unaudited condensed consolidated statements of financial position - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Non-current assets
Other non-current assets	$ 88	$ 186
Tangible fixed assets	2,174,891	2,206,618
Right-of-use assets	602	516
Total non-current assets	2,175,581	2,207,320
Current assets
Trade and other receivables	13,948	16,265
Inventories	3,146	3,036
Prepayments and other current assets	2,171	2,691
Short-term investments	2,500
Cash and cash equivalents	119,816	103,736
Total current assets	141,581	125,728
Total assets	2,317,162	2,333,048
Partners' equity
Common unitholders (47,517,824 units issued and outstanding as of December 31, 2020 and 50,722,201 units issued and outstanding as of June 30, 2021)	637,843	594,901
General partner (1,021,336 units issued and outstanding as of December 31, 2020 and 1,077,494 units issued and outstanding as of June 30, 2021)	11,949	11,028
Preference unitholders (5,750,000 Series A Preference Units, 4,600,000 Series B Preference Units and 4,000,000 Series C Preference Units issued and outstanding as of December 31, 2020 and June 30, 2021)	347,889	347,889
Total partners' equity	997,681	953,818
Current liabilities
Trade accounts payable	13,222	13,578
Due to related parties	1,466	7,525
Derivative financial instruments-current portion	7,632	8,185
Other payables and accruals	55,447	50,679
Borrowings-current portion	105,065	104,908
Lease liabilities-current portion	363	332
Total current liabilities	183,195	185,207
Non-current liabilities
Derivative financial instruments-non-current portion	7,136	12,152
Borrowings-non-current portion	1,128,079	1,180,635
Lease liabilities-non-current portion	197	112
Other non-current liabilities	874	1,124
Total non-current liabilities	1,136,286	1,194,023
Total partners' equity and liabilities	$ 2,317,162	$ 2,333,048

XML

Unaudited condensed consolidated statements of financial position (Parenthetical) - shares	Jun. 30, 2021	Dec. 31, 2020
Common units
Partners' equity
Number of units issued	50,722,201	47,517,824
Number of units outstanding	50,722,201	47,517,824
General partner units
Partners' equity
Number of units issued	1,077,494	1,021,336
Number of units outstanding	1,077,494	1,021,336
Preference units
Partners' equity
Number of units outstanding	14,350,000	14,350,000
Series A preference units
Partners' equity
Number of units issued	5,750,000	5,750,000
Number of units outstanding	5,750,000	5,750,000
Series B preference units
Partners' equity
Number of units issued	4,600,000	4,600,000
Number of units outstanding	4,600,000	4,600,000
Series C preference units
Partners' equity
Number of units issued	4,000,000	4,000,000
Number of units outstanding	4,000,000	4,000,000

XML

Unaudited condensed consolidated statements of profit or loss and total comprehensive income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Profit or loss and total comprehensive income
Revenues	$ 70,352	$ 84,448	$ 157,440	$ 175,801
Voyage expenses and commissions	(1,852)	(2,782)	(3,931)	(6,670)
Vessel operating costs	(20,044)	(16,895)	(37,851)	(35,988)
Depreciation	(20,798)	(20,675)	(41,484)	(41,273)
General and administrative expenses	(3,488)	(4,421)	(6,559)	(8,592)
Impairment loss on vessels		(18,841)		(18,841)
Profit from operations	24,170	20,834	67,615	64,437
Financial costs	(9,115)	(13,067)	(18,531)	(28,580)
Financial income	11	77	23	276
Gain/(loss) on derivatives	(403)	369	916	(13,751)
Total other expenses, net	(9,507)	(12,621)	(17,592)	(42,055)
Profit for the period	14,663	8,213	50,023	22,382
Total comprehensive income for the period	$ 14,663	$ 8,213	50,023	22,382
Common units
Profit or loss and total comprehensive income
Profit for the period			34,127	7,063
Total comprehensive income for the period			$ 34,127	$ 7,063
Earnings per unit, basic and diluted:
Earnings per unit (basic)	$ 0.14	$ 0.01	$ 0.71	$ 0.15
Earnings per unit (diluted)	0.14	0.01	$ 0.68	$ 0.14
General partner units
Profit or loss and total comprehensive income
Profit for the period			$ 732	$ 155
Total comprehensive income for the period			$ 732	$ 155
Earnings per unit, basic and diluted:
Earnings per unit (basic)	0.14	0.01	$ 0.72	$ 0.15
Earnings per unit (diluted)	0.14	0.01	0.72	0.15
Earnings per unit (basic and diluted)	$ 0.14	$ 0.01	$ 0.72	$ 0.15

XML

Unaudited condensed consolidated statements of changes in partners' equity - USD ($) $ in Thousands	General partner units	Common units	Class B units	Preference units	Total
Balance as of beginning of the period at Dec. 31, 2019	$ 11,271	$ 606,811		$ 347,889	$ 965,971
Balance as of beginning of the period (in units) at Dec. 31, 2019	1,021,336	46,860,182	2,490,000	14,350,000
Equity offering costs		$ (114)			(114)
Number of units of settlement of awards vested during the period		68,432
Repurchases of common units		$ (996)			(996)
Number of units of repurchases of common units		(191,490)
Distributions declared (Note 5)	$ (702)	$ (32,019)		$ (15,164)	(47,885)
Share-based compensation, net of accrued distribution	11	482			493
Partnership's profit	155	7,063		15,164	22,382
Partnership's total comprehensive income	155	7,063		15,164	22,382
Balance as of end of the period at Jun. 30, 2020	$ 10,735	$ 581,227		$ 347,889	939,851
Balance as of end of the period (in units) at Jun. 30, 2020	1,021,336	46,737,124	2,490,000	14,350,000
Balance as of beginning of the period at Dec. 31, 2020	$ 11,028	$ 594,901		$ 347,889	953,818
Balance as of beginning of the period (in units) at Dec. 31, 2020	1,021,336	47,517,824	2,075,000	14,350,000
Net proceeds from public offerings of common units and issuances of general partner units (Note 5)	$ 205	$ 9,593			9,798
Number of common units in public offering or general partner units (Note 5)	56,158	3,195,401
Number of units of settlement of awards vested during the period		8,976
Distributions declared (Note 5)	$ (20)	$ (950)		$ (15,164)	(16,134)
Share-based compensation, net of accrued distribution	4	172			176
Partnership's profit	732	34,127		15,164	50,023
Partnership's total comprehensive income	732	34,127		15,164	50,023
Balance as of end of the period at Jun. 30, 2021	$ 11,949	$ 637,843		$ 347,889	$ 997,681
Balance as of end of the period (in units) at Jun. 30, 2021	1,077,494	50,722,201	2,075,000	14,350,000

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Unaudited condensed consolidated statements of cash flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Profit for the period		$ 50,023	$ 22,382
Adjustments for:
Depreciation		41,484	41,273
Impairment loss on vessels			18,841
Financial costs		18,531	28,580
Financial income		(23)	(276)
Loss/(gain) on derivatives (excluding realized loss on forward foreign exchange contracts held for trading)		(916)	13,342	[1]
Share-based compensation		167	659
Adjusted profit		109,266	124,801	[1]
Movements in working capital		3,751	(14,743)	[1]
Net cash provided by operating activities		113,017	110,058	[1]
Cash flows from investing activities:
Payments for tangible fixed asset additions		(12,241)	(12,027)
Financial income received		23	307
Purchase of short-term investments		(2,500)
Net cash used in investing activities		(14,718)	(11,720)
Cash flows from financing activities:
Borrowings drawdowns			25,940
Borrowings repayments		(54,838)	(55,805)
Interest paid		(21,384)	(28,834)	[1]
Payments of cash collateral for interest rate swaps	[1]		(15,000)
Release of cash collateral for interest rate swaps		280
Payment of loan issuance costs			(189)
Proceeds from public offerings of common units and issuances of general partner units (net of underwriting discounts and commissions)		10,205
Repurchases of common units			(996)
Payment of offering costs		(124)	(15)
Distributions paid		(16,134)	(47,885)
Payments for lease liabilities		(224)	(228)
Net cash used in financing activities		(82,219)	(123,012)	[1]
(Decrease)/increase in cash and cash equivalents		16,080	(24,674)
Cash and cash equivalents, beginning of the period		103,736	96,884
Cash and cash equivalents, end of the period		$ 119,816	$ 72,210

[1] Restated so as to reflect a change in accounting policy introduced on January 1, 2021, with respect to the reclassification of interest paid and movements of cash collateral for interest rate swaps (Note 2).

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Unaudited condensed consolidated statements of cash flows (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Jun. 30, 2020
Non-cash Investing and financing activities:
Capital expenditures included in liabilities at the end of the period	$ 10,523	$ 10,501
Financing costs included in liabilities at the end of the period		142
Offering costs included in liabilities at the end of the period	$ 283	113
Liabilities related to leases at the end of the period		$ 72

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Organization and Operations

6 Months Ended

Jun. 30, 2021

Organization and Operations

Organization and Operations

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, as a wholly owned subsidiary of GasLog Ltd. (“GasLog” or the “Parent”) for the purpose of initially acquiring the interests in three liquefied natural gas (“LNG”) carriers (or the “Initial Fleet”) that were contributed to the Partnership by GasLog in connection with the initial public offering of its common units (the “IPO”).

As of June 30, 2021, GasLog holds a 33.3% 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.

The Partnership’s principal business is the acquisition and operation of LNG vessels, providing LNG transportation services on a worldwide basis primarily under multi-year charters. 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. As of June 30, 2021, the Partnership owned 15 LNG vessels.

The accompanying unaudited condensed consolidated financial statements include the financial statements of GasLog Partners and its subsidiaries, which are 100% owned by the Partnership. No new subsidiaries were established or acquired in the six months ended June 30, 2021.

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Basis of Presentation

6 Months Ended

Jun. 30, 2021

Basis of Presentation

Basis of Presentation

2. Basis of Presentation

These unaudited condensed consolidated financial statements have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting as issued by the International Accounting Standards Board (“IASB”). Certain information and footnote disclosures required by IFRS for a complete set of annual financial statements have been omitted, and, therefore, these unaudited condensed consolidated financial statements should be read in conjunction with the Partnership’s annual consolidated financial statements for the year ended December 31, 2020, filed on an Annual Report on Form 20-F with the Securities Exchange Commission on March 2, 2021.

The unaudited condensed consolidated financial statements have been prepared on the historical cost basis, except for the revaluation of derivative financial instruments. The same accounting policies and methods of computation have been followed in these unaudited condensed consolidated financial statements as applied in the preparation of the Partnership’s consolidated financial statements for the year ended December 31, 2020, with the exception of a reclassification in the consolidated statements of cash flows that is described below. On July 27, 2021, the Partnership’s board of directors authorized the unaudited condensed consolidated financial statements for issuance.

Until December 31, 2020, interest paid and movements of cash collateral were presented in the consolidated statement of cash flows under cash provided by operating activities. IAS 7 Cash Flow Statement does not dictate how interest cash flows should be classified, but rather allows an entity to determine the classification appropriate to its business. The standard permits entities to present payments for interest under either operating or financing activities, provided that the elected presentation is applied consistently from period to period. In 2021, management, after reviewing the Exposure Draft General Presentation and Disclosures issued by the IASB in December 2019, elected to reclassify interest paid including cash paid for interest rate swaps held for trading and the movements of cash collateral related to the Partnership’s interest rate swaps under cash used in financing activities, in conformity with the proposal of the Exposure Draft to reduce presentation alternatives and classify interest paid as a cash flow arising from financing activities. Management believes that the revised classification provides more relevant information to users, as it better reflects management’s view of the financing nature of these transactions. Comparative figures have been retrospectively adjusted to reflect this change in policy in the statement of cash flows, as follows:

	Six months ended June 30, 2020
	As previously reported	Adjustments	As restated
Net cash provided by operating activities	66,224	43,834	110,058
Net cash used in investing activities	(11,720)	—	(11,720)
Net cash used in financing activities	(79,178)	(43,834)	(123,012)
Decrease in cash and cash equivalents	(24,674)	—	(24,674)

The critical accounting judgments and key sources of estimation uncertainty were disclosed in the Partnership’s annual consolidated financial statements for the year ended December 31, 2020 and remain unchanged.

The unaudited condensed consolidated financial statements are expressed in thousands of U.S. Dollars (“USD”), which is the functional currency of the Partnership and each of its subsidiaries because their vessels operate in international shipping markets, in which revenues and expenses are primarily settled in USD and the Partnership’s most significant assets and liabilities are paid for and settled in USD.

As of June 30, 2021, the Partnership’s current assets totaled $141,581 while current liabilities totaled $183,195, resulting in a negative working capital position of $41,614. Current liabilities include an amount of $25,305 of unearned revenue in relation to vessel hires received in

advance (which represents a non-cash liability that will be recognized as revenues in July 2021 as the services are rendered). In considering going concern, management has reviewed the Partnership’s future cash requirements, covenant compliance and earnings projections, incorporating the negative impact of the COVID-19 pandemic on near-term market rates.

Management monitors the Partnership’s liquidity position throughout the year to ensure that it has access to sufficient funds to meet its forecast cash requirements, including debt service commitments, and to monitor compliance with the financial covenants within its loan facilities. Management anticipates that the Partnership’s primary sources of funds for at least twelve months from the date of this report will be available cash, cash from operations and existing debt facilities. Management believes that these anticipated sources of funds, as well as its ability to access the capital markets if needed, will be sufficient for the Partnership to meet its liquidity needs and comply with its banking covenants for at least twelve months from the date of this report and therefore it is appropriate to prepare the financial statements on a going concern basis. Additionally, the Partnership may enter into new debt facilities in the future, as well as public equity or debt instruments, although there can be no assurance that the Partnership will be able to obtain additional debt or equity financing on terms acceptable to the Partnership, which will also depend on financial, commercial and other factors, as well as a significant recovery in capital market conditions and a sustainable improvement in the LNG charter market, that are beyond the Partnership’s control.

Adoption of new and revised IFRS

(a)  Standards and interpretations adopted in the current period

In August 2020, the IASB issued the Phase 2 amendments to IFRS 9 Financial Instruments, IFRS 7 Financial Instruments: Disclosures, IFRS 4 and IFRS 16 in connection with the Phase 2 of the interest rate benchmark reform. The amendments address the issues arising from the implementation of the reforms, including the replacement of one benchmark with an alternative one. The amendment is effective for annual periods beginning on or after January 1, 2021. Management anticipates that this amendment will not have a material impact on the Partnership’s consolidated financial statements.

There were no other IFRS standards or amendments that became effective in the current period which were relevant to the Partnership or material with respect to the Partnership’s financial statements.

(b)  Standards and amendments in issue not yet adopted

In January 2020, the IASB issued a narrow-scope amendment to IAS 1 Presentation of Financial Statements, to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Classification is unaffected by the expectations of the entity or events after the reporting date (for example, the receipt of a waiver or a breach of covenant). The amendment also defines the “settlement” of a liability as the extinguishment of a liability with cash, other economic resources or an entity’s own equity instruments. The amendment will be effective for annual periods beginning on or after January 1, 2022 and should be applied retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Earlier application is permitted. Management anticipates that this amendment will not have a material impact on the Partnership’s financial statements.

At the date of authorization of these unaudited condensed consolidated financial statements, there were no other IFRS standards and amendments issued but not yet adopted with an expected material effect on the Partnership’s financial statements.

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Related party transactions

6 Months Ended

Jun. 30, 2021

Related party transactions

Related party transactions

3. Related party transactions

The Partnership has the following balances with related parties, which have been included in the unaudited condensed consolidated statements of financial position:

Amounts due to related parties
	December 31, 2020	June 30, 2021
Due to GasLog LNG Services (a)	7,361	1,392
Due to GasLog (b)	164	74
Total	7,525	1,466

(a) The balances represent mainly payments made by GasLog LNG Services on behalf of the Partnership.

(b) The balances represent mainly payments made by GasLog on behalf of the Partnership.

Loans due to related parties

The main terms of the revolving credit facility of $30,000 with GasLog (the “Sponsor Credit Facility”) have been disclosed in the annual consolidated financial statements for the year ended December 31, 2020. Refer to Note 6 “Borrowings”.

As of December 31, 2020 and June 30, 2021, the amount outstanding under the Sponsor Credit Facility was nil.

The main terms of the Partnership’s related party transactions, including the commercial management agreements, administrative services agreement and ship management agreements with GasLog and GasLog LNG Services, have been disclosed in the annual consolidated financial statements for the year ended December 31, 2020. Refer to Note 13 “Related Party Transactions”.

The Partnership had the following transactions with such related parties, which have been included in the unaudited condensed consolidated statements of profit or loss for the three and six months ended June 30, 2020 and 2021:

			For the three months ended		For the six months ended
Company	Details	Account	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
GasLog/ GasLog LNG Services(i)	Commercial management fees	General and administrative expenses	1,350	1,350	2,700	2,700
GasLog	Administrative services fees(ii)	General and administrative expenses	1,959	1,177	3,919	2,354
GasLog LNG Services	Management fees	Vessel operating costs	1,932	1,932	3,864	3,864
GasLog LNG Services	Other vessel operating costs	Vessel operating costs	20	—	30	10
GasLog	Commitment fee under Sponsor Credit Facility	Financial costs	76	76	152	151
GasLog	Realized loss on interest rate swaps held for trading (Note 12)	Gain/(loss) on derivatives	832	1,373	1,125	2,692
GasLog	Realized loss on forward foreign exchange contracts held for trading (Note 12)	Gain/(loss) on derivatives	234	—	409	—

(i) Effective July 21, 2020 and October 1, 2020, the commercial management agreements between the vessel-owning entities and GasLog were novated to GasLog LNG Services as the provider of commercial management services.

(ii) Effective January 1, 2021, the administrative services fee was reduced to $314 per vessel per year, from $523 effective since January 1, 2020.

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Tangible Fixed Assets

6 Months Ended

Jun. 30, 2021

Tangible Fixed Assets

Tangible Fixed Assets

4. Tangible Fixed Assets

The movement in tangible fixed assets (i.e. vessels and their associated depot spares) is reported in the following table:

		Other tangible	Total tangible fixed
	Vessels	assets	assets
Cost
As of January 1, 2021	2,873,829	2,719	2,876,548
Additions	9,503	—	9,503
Fully amortized dry-docking component	(8,626)	—	(8,626)
As of June 30, 2021	2,874,706	2,719	2,877,425
Accumulated depreciation
As of January 1, 2021	669,930	—	669,930
Depreciation expense	41,230	—	41,230
Fully amortized dry-docking component	(8,626)	—	(8,626)
As of June 30, 2021	702,534	—	702,534
Net book value
As of December 31, 2020	2,203,899	2,719	2,206,618
As of June 30, 2021	2,172,172	2,719	2,174,891

All vessels have been pledged as collateral under the terms of the Partnership’s credit facilities.

As of June 30, 2021, the Partnership concluded that there were no events or circumstances triggering the existence of potential impairment or reversal of impairment of its vessels.

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Partners' Equity

6 Months Ended

Jun. 30, 2021

Partners' Equity

Partners' Equity

5. Partners’ Equity

The Partnership’s cash distributions for the six months ended June 30, 2021 are presented in the following table:

Declaration date	Type of units	Distribution per unit		Payment date	Amount paid
January 27, 2021	Common	$	0.01	February 11, 2021		485
February 19, 2021	Preference (Series A, B, C)	$	0.5390625, $0.5125, $0.53125	March 15, 2021		7,582
April 28, 2021	Common	$	0.01	May 13, 2021		485
May 13, 2021	Preference (Series A, B, C)	$	0.5390625, $0.5125, $0.53125	June 14, 2021		7,582
				Total	$	16,134

On April 6, 2021, GasLog Partners issued 8,976 common units in connection with the vesting of 5,984 Restricted Common Units (“RCUs”) and 2,992 Performance Common Units (“PCUs”) under its 2015 Long-Term Incentive Plan (the “2015 Plan”).

In addition, under the Partnership’s ATM Common Equity Offering Programme (“ATM Programme”), there was an issuance of 3,195,401 additional common units in the six months ended June 30, 2021, for total net proceeds of $9,593. During this period, the Partnership also issued 56,158 general partner units to its general partner in order for GasLog to retain its 2.0% general partner interest for net proceeds of $205.

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Borrowings

6 Months Ended

Jun. 30, 2021

Borrowings

Borrowings

6. Borrowings

	December 31,	June 30,
	2020	2021
Amounts due within one year	109,673	109,673
Less: unamortized deferred loan issuance costs	(4,765)	(4,608)
Borrowings - current portion	104,908	105,065
Amounts due after one year	1,195,241	1,140,403
Less: unamortized deferred loan issuance costs	(14,606)	(12,324)
Borrowings - non-current portion	1,180,635	1,128,079
Total	1,285,543	1,233,144

The main terms of the credit facilities, including financial covenants, and the Sponsor Credit Facility have been disclosed in the annual consolidated financial statements for the year ended December 31, 2020. Refer to Note 6 “Borrowings”.

In the six months ended June 30, 2021, the Partnership repaid $54,838 in accordance with the repayment terms under its credit facilities. In connection with the de-listing of the Parent’s common shares from the New York Stock Exchange completed in June 2021, supplemental agreements have been signed with certain of the Partnership’s lenders with respect to clauses relating to its Parent, GasLog. All costs relating to such amendments have been covered by GasLog directly.

GasLog Partners was in compliance with its financial covenants as of June 30, 2021.

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Other Payables and Accruals

6 Months Ended

Jun. 30, 2021

Other Payables and Accruals

Other Payables and Accruals

7. Other Payables and Accruals

An analysis of other payables and accruals is as follows:

	December 31,	June 30,
	2020	2021
Unearned revenue	25,828	25,305
Accrued off-hire	1,802	6,748
Accrued purchases	4,187	7,999
Accrued interest	10,855	10,281
Other accruals	8,007	5,114
Total	50,679	55,447

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Revenues

6 Months Ended

Jun. 30, 2021

Revenues

Revenues

8. Revenues

The Partnership has recognized the following amounts relating to revenues:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Revenues from long-term time charters	63,925	42,881	131,570	92,915
Revenues from spot time charters	20,523	27,471	44,231	64,525
Total	84,448	70,352	175,801	157,440

The Partnership defines long-term time charters as charter party agreements with an initial duration of more than five years (excluding any optional periods), while all charter party agreements of an initial duration of less than (or equal to) five years (excluding any optional periods) are classified as spot time charters.

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General and Administrative Expenses

6 Months Ended

Jun. 30, 2021

General and Administrative Expenses

General and Administrative Expenses

9. General and Administrative Expenses

An analysis of general and administrative expenses is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Administrative services fees (Note 3)	1,959	1,177	3,919	2,354
Commercial management fees (Note 3)	1,350	1,350	2,700	2,700
Share-based compensation	362	94	659	167
Other expenses	750	867	1,314	1,338
Total	4,421	3,488	8,592	6,559

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Vessel Operating Costs

6 Months Ended

Jun. 30, 2021

Vessel Operating Costs

Vessel Operating Costs

10. Vessel Operating Costs

An analysis of vessel operating costs is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Crew costs	8,780	9,675	17,619	18,647
Technical maintenance expenses	4,142	5,848	10,079	10,214
Other operating expenses	3,973	4,521	8,290	8,990
Total	16,895	20,044	35,988	37,851

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Derivative Financial Instruments

6 Months Ended

Jun. 30, 2021

Derivative Financial Instruments

Derivative Financial Instruments

11. Derivative Financial Instruments

The fair value of the Partnership’s derivative liabilities is as follows:

	December 31,	June 30,
	2020	2021
Derivative liabilities carried at fair value through profit or loss (FVTPL)
Interest rate swaps	20,337	14,768
Total	20,337	14,768
Derivative financial instruments, current liability	8,185	7,632
Derivative financial instruments, non-current liability	12,152	7,136
Total	20,337	14,768

Interest rate swap agreements

The Partnership enters into interest rate swap agreements which convert the floating interest rate exposure into a fixed interest rate in order to hedge a portion of the Partnership’s exposure to fluctuations in prevailing market interest rates. Under the interest rate swaps, the counterparty effects quarterly floating-rate payments to the Partnership for the notional amount based on the three-month USD London Interbank Offered Rate (“LIBOR”), and the Partnership effects quarterly payments to the counterparty on the notional amount at the respective fixed rates.

Interest rate swaps held for trading

The principal terms of the Partnership’s interest rate swaps held for trading as of December 31, 2020 have been disclosed in the annual audited consolidated financial statements for the year ended December 31, 2020. Refer to Note 17 “Derivative Financial Instruments”.

The derivative instruments of the Partnership were not designated as cash flow hedging instruments as of June 30, 2021. The change in the fair value of the interest rate swaps for the three and six months ended June 30, 2021 amounted to a gain of $1,962 and a gain of $5,569, respectively (for the three and six months ended June 30, 2020, a gain of $1,034 and a loss of $12,148, respectively), which was recognized in profit or loss in the period incurred and is included in Gain/(loss) on derivatives. During the three and six months ended June 30, 2021, the gain of $1,962 and $5,569, respectively (Note 12), was attributable to changes in the USD LIBOR yield curve, which was used to calculate the present value of the estimated future cash flows, resulting in a decrease in derivative liabilities from interest rate swaps held for trading.

Forward foreign exchange contracts

The Partnership uses non-deliverable forward foreign exchange contracts to mitigate foreign exchange transaction exposures in Euros (“EUR”) and Singapore Dollars (“SGD”). Under these non-deliverable forward foreign exchange contracts, the counterparties settle the difference between the

fixed exchange rate and the prevailing rate on the agreed notional amounts on the respective settlement dates. All forward foreign exchange contracts are considered by management to be part of economic hedge arrangements but have not been formally designated as such.

Forward foreign exchange contracts held for trading

During the six months ended June 30, 2021, the Partnership did not enter any new forward foreign exchange contracts and the change in the fair value of forward foreign exchange contracts for the three and six months ended June 30, 2021 was nil. The change in the fair value of such contracts for the three and six months ended June 30, 2020 amounted to a gain of $401 and a loss of $69, respectively, which was recognized in profit or loss in the period incurred and is included in Gain/(loss) on derivatives (Note 12).

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Financial Costs and Gain/(loss) on Derivatives

6 Months Ended

Jun. 30, 2021

Financial Costs and Gain/(loss) on Derivatives

Financial Costs and Gain/(loss) on Derivatives

12. Financial Costs and Gain/(loss) on Derivatives

An analysis of financial costs is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Amortization and write-off of deferred loan issuance costs	1,480	1,215	2,985	2,439
Interest expense on loans	11,466	7,716	24,900	15,599
Lease expense	9	4	19	9
Commitment fees	78	76	208	151
Other financial costs including bank commissions	34	104	468	333
Total financial costs	13,067	9,115	28,580	18,531

An analysis of (gain)/loss on derivatives is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Unrealized (gain)/loss on interest rate swaps held for trading (Note 11)	(1,034)	(1,962)	12,148	(5,569)
Unrealized (gain)/loss on forward foreign exchange contracts held for trading (Note 11)	(401)	—	69	—
Realized loss on interest rate swaps held for trading	832	2,365	1,125	4,653
Realized loss on forward foreign exchange contracts held for trading	234	—	409	—
Total (gain)/loss on derivatives	(369)	403	13,751	(916)

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Earnings per Unit ("EPU")

6 Months Ended

Jun. 30, 2021

Earnings per Unit ("EPU")

Earnings per Unit ("EPU")

13. Earnings per Unit (“EPU”)

The Partnership calculates earnings per unit by allocating reported profit for each period to each class of units based on the distribution policy for available cash stated in the Partnership Agreement.

Basic earnings per unit is determined by dividing profit for the period, after deducting preference unit distributions, by the weighted average number of units outstanding during the period. Diluted earnings per unit is calculated by dividing the profit of the period attributable to common unitholders by the weighted average number of potential ordinary common units assumed to have been converted into common units, unless such potential ordinary common units have an antidilutive effect.

Earnings per unit is presented for the period in which the units were outstanding, with earnings calculated as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period and Partnership’s profit	8,213	14,663	22,382	50,023
Adjustment for:
Paid and accrued preference unit distributions	(7,582)	(7,582)	(15,164)	(15,164)
Partnership’s profit attributable to:	631	7,081	7,218	34,859
Common unitholders	617	6,933	7,063	34,127
General partner	14	148	155	732
Weighted average number of units outstanding (basic)
Common units	46,713,991	48,161,285	46,739,034	47,841,332
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Earnings per unit (basic)
Common unitholders	0.01	0.14	0.15	0.71
General partner	0.01	0.14	0.15	0.72
Weighted average number of units outstanding (diluted)
Common units*	49,460,033	50,425,047	49,402,714	50,016,601
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Earnings per unit (diluted)
Common unitholders	0.01	0.14	0.14	0.68
General partner	0.01	0.14	0.15	0.72

* Includes unvested awards with respect to the 2015 Plan and Class B units. After the conversion of the first tranche of 415,000 Class B units on July 1, 2020, the remaining 2,075,000 Class B units will become eligible for conversion on a one-for-one basis into common units at GasLog’s option in five tranches of 415,000 units per annum on July 1 of 2021 (Note 15), 2022, 2023, 2024 and 2025.

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies

Commitments and Contingencies

14. Commitments and Contingencies

Future gross minimum lease payments receivable in relation to non-cancellable time charter agreements for vessels in operation as of June 30, 2021 are as follows (30 off-hire days are assumed when each vessel will undergo scheduled dry-docking; in addition, early redelivery of the vessels by the charterers or any exercise of the charterers’ options to extend the terms of the charters are not accounted for):

Period	June 30, 2021
Not later than one year		200,081
Later than one year and not later than two years		133,425
Later than two years and not later than three years		83,232
Later than three years and not later than four years		50,280
Later than four years and not later than five years		41,879
Total	$	508,897

In September 2017 and July 2018, GasLog LNG Services entered into maintenance agreements with Wartsila Greece S.A. in respect of eight of the Partnership’s LNG carriers. The agreements ensure dynamic maintenance planning, technical support, security of spare parts supply, specialist technical personnel and performance monitoring.

In March 2019, GasLog LNG Services entered into an agreement with Samsung Heavy Industries Co., Ltd. (“Samsung”) in respect of eleven of the Partnership’s LNG carriers. The agreement covers the supply of ballast water management systems on board the vessels by Samsung and associated field, commissioning and engineering services for a firm period of six years. As of June 30, 2021, ballast water management systems had been installed on seven out of the eleven vessels.

Various claims, suits and complaints, including those involving government regulations, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, environmental claims, agents and insurers and from claims with suppliers relating to the operations of the Partnership’s vessels. Currently, management is not aware of any such claims or contingent liabilities requiring disclosure in the consolidated financial statements.

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Subsequent Events

6 Months Ended

Jun. 30, 2021

Subsequent Events

Subsequent Events

15. Subsequent Events

On July 1, 2021, GasLog Partners issued 415,000 common units in connection with GasLog’s option to convert the second tranche of its Class B units issued upon the elimination of incentive distributions rights in June 2019.

On July 26, 2021, the board of directors of GasLog Partners approved and declared a quarterly cash distribution of $0.01 per common unit for the quarter ended June 30, 2021. The cash distribution is payable on August 12, 2021 to all unitholders of record as of August 9, 2021. The aggregate amount of the declared distribution will be $518 based on the number of units issued and outstanding as of June 30, 2021.

On July 26, 2021, the board of directors of GasLog Partners approved and declared a distribution on the Series A Preference Units of $0.5390625 per preference unit, a distribution on the Series B Preference Units of $0.5125 per preference unit and a distribution on the Series C Preference Units of $0.53125 per preference unit. The cash distributions are payable on September 15, 2021 to all unitholders of record as of September 8, 2021.

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Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2021

Basis of Presentation

Accounting policies and methods of computation followed in interim financial statements

The unaudited condensed consolidated financial statements have been prepared on the historical cost basis, except for the revaluation of derivative financial instruments. The same accounting policies and methods of computation have been followed in these unaudited condensed consolidated financial statements as applied in the preparation of the Partnership’s consolidated financial statements for the year ended December 31, 2020, with the exception of a reclassification in the consolidated statements of cash flows that is described below. On July 27, 2021, the Partnership’s board of directors authorized the unaudited condensed consolidated financial statements for issuance.

Adoption of new and revised IFRS

Adoption of new and revised IFRS

(a)  Standards and interpretations adopted in the current period

In August 2020, the IASB issued the Phase 2 amendments to IFRS 9 Financial Instruments, IFRS 7 Financial Instruments: Disclosures, IFRS 4 and IFRS 16 in connection with the Phase 2 of the interest rate benchmark reform. The amendments address the issues arising from the implementation of the reforms, including the replacement of one benchmark with an alternative one. The amendment is effective for annual periods beginning on or after January 1, 2021. Management anticipates that this amendment will not have a material impact on the Partnership’s consolidated financial statements.

There were no other IFRS standards or amendments that became effective in the current period which were relevant to the Partnership or material with respect to the Partnership’s financial statements.

(b)  Standards and amendments in issue not yet adopted

In January 2020, the IASB issued a narrow-scope amendment to IAS 1 Presentation of Financial Statements, to clarify that liabilities are classified as either current or non-current, depending on the rights that exist at the end of the reporting period. Classification is unaffected by the expectations of the entity or events after the reporting date (for example, the receipt of a waiver or a breach of covenant). The amendment also defines the “settlement” of a liability as the extinguishment of a liability with cash, other economic resources or an entity’s own equity instruments. The amendment will be effective for annual periods beginning on or after January 1, 2022 and should be applied retrospectively in accordance with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors. Earlier application is permitted. Management anticipates that this amendment will not have a material impact on the Partnership’s financial statements.

At the date of authorization of these unaudited condensed consolidated financial statements, there were no other IFRS standards and amendments issued but not yet adopted with an expected material effect on the Partnership’s financial statements.

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Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2021

Basis of Presentation

Schedule of change in accounting policy related to cash flows

	Six months ended June 30, 2020
	As previously reported	Adjustments	As restated
Net cash provided by operating activities	66,224	43,834	110,058
Net cash used in investing activities	(11,720)	—	(11,720)
Net cash used in financing activities	(79,178)	(43,834)	(123,012)
Decrease in cash and cash equivalents	(24,674)	—	(24,674)

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Related party transactions (Tables)

6 Months Ended

Jun. 30, 2021

Related party transactions

Schedule of balances with related parties

Amounts due to related parties
	December 31, 2020	June 30, 2021
Due to GasLog LNG Services (a)	7,361	1,392
Due to GasLog (b)	164	74
Total	7,525	1,466

(a) The balances represent mainly payments made by GasLog LNG Services on behalf of the Partnership.

(b) The balances represent mainly payments made by GasLog on behalf of the Partnership.

Schedule of related party transactions

			For the three months ended		For the six months ended
Company	Details	Account	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
GasLog/ GasLog LNG Services(i)	Commercial management fees	General and administrative expenses	1,350	1,350	2,700	2,700
GasLog	Administrative services fees(ii)	General and administrative expenses	1,959	1,177	3,919	2,354
GasLog LNG Services	Management fees	Vessel operating costs	1,932	1,932	3,864	3,864
GasLog LNG Services	Other vessel operating costs	Vessel operating costs	20	—	30	10
GasLog	Commitment fee under Sponsor Credit Facility	Financial costs	76	76	152	151
GasLog	Realized loss on interest rate swaps held for trading (Note 12)	Gain/(loss) on derivatives	832	1,373	1,125	2,692
GasLog	Realized loss on forward foreign exchange contracts held for trading (Note 12)	Gain/(loss) on derivatives	234	—	409	—

(i) Effective July 21, 2020 and October 1, 2020, the commercial management agreements between the vessel-owning entities and GasLog were novated to GasLog LNG Services as the provider of commercial management services.

(ii) Effective January 1, 2021, the administrative services fee was reduced to $314 per vessel per year, from $523 effective since January 1, 2020.

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Tangible Fixed Assets (Tables)

6 Months Ended

Jun. 30, 2021

Tangible Fixed Assets

Schedule of movements in tangible fixed assets

		Other tangible	Total tangible fixed
	Vessels	assets	assets
Cost
As of January 1, 2021	2,873,829	2,719	2,876,548
Additions	9,503	—	9,503
Fully amortized dry-docking component	(8,626)	—	(8,626)
As of June 30, 2021	2,874,706	2,719	2,877,425
Accumulated depreciation
As of January 1, 2021	669,930	—	669,930
Depreciation expense	41,230	—	41,230
Fully amortized dry-docking component	(8,626)	—	(8,626)
As of June 30, 2021	702,534	—	702,534
Net book value
As of December 31, 2020	2,203,899	2,719	2,206,618
As of June 30, 2021	2,172,172	2,719	2,174,891

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Partners' Equity (Tables)

6 Months Ended

Jun. 30, 2021

Partners' Equity

Schedule of cash distributions

Declaration date	Type of units	Distribution per unit		Payment date	Amount paid
January 27, 2021	Common	$	0.01	February 11, 2021		485
February 19, 2021	Preference (Series A, B, C)	$	0.5390625, $0.5125, $0.53125	March 15, 2021		7,582
April 28, 2021	Common	$	0.01	May 13, 2021		485
May 13, 2021	Preference (Series A, B, C)	$	0.5390625, $0.5125, $0.53125	June 14, 2021		7,582
				Total	$	16,134

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Borrowings (Tables)

6 Months Ended

Jun. 30, 2021

Borrowings

Schedule of borrowings

	December 31,	June 30,
	2020	2021
Amounts due within one year	109,673	109,673
Less: unamortized deferred loan issuance costs	(4,765)	(4,608)
Borrowings - current portion	104,908	105,065
Amounts due after one year	1,195,241	1,140,403
Less: unamortized deferred loan issuance costs	(14,606)	(12,324)
Borrowings - non-current portion	1,180,635	1,128,079
Total	1,285,543	1,233,144

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Other Payables and Accruals (Tables)

6 Months Ended

Jun. 30, 2021

Other Payables and Accruals

Schedule of other payables and accruals

	December 31,	June 30,
	2020	2021
Unearned revenue	25,828	25,305
Accrued off-hire	1,802	6,748
Accrued purchases	4,187	7,999
Accrued interest	10,855	10,281
Other accruals	8,007	5,114
Total	50,679	55,447

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Revenues (Tables)

6 Months Ended

Jun. 30, 2021

Revenues

Schedule of revenues

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Revenues from long-term time charters	63,925	42,881	131,570	92,915
Revenues from spot time charters	20,523	27,471	44,231	64,525
Total	84,448	70,352	175,801	157,440

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General and Administrative Expenses (Tables)

6 Months Ended

Jun. 30, 2021

General and Administrative Expenses

Schedule of general and administrative expenses

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Administrative services fees (Note 3)	1,959	1,177	3,919	2,354
Commercial management fees (Note 3)	1,350	1,350	2,700	2,700
Share-based compensation	362	94	659	167
Other expenses	750	867	1,314	1,338
Total	4,421	3,488	8,592	6,559

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Vessel Operating Costs (Tables)

6 Months Ended

Jun. 30, 2021

Vessel Operating Costs

Schedule of vessel operating costs

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Crew costs	8,780	9,675	17,619	18,647
Technical maintenance expenses	4,142	5,848	10,079	10,214
Other operating expenses	3,973	4,521	8,290	8,990
Total	16,895	20,044	35,988	37,851

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Derivative Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2021

Derivative Financial Instruments

Schedule of fair value of the derivative liabilities

	December 31,	June 30,
	2020	2021
Derivative liabilities carried at fair value through profit or loss (FVTPL)
Interest rate swaps	20,337	14,768
Total	20,337	14,768
Derivative financial instruments, current liability	8,185	7,632
Derivative financial instruments, non-current liability	12,152	7,136
Total	20,337	14,768

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Financial Costs and Gain/(loss) on Derivatives (Tables)

6 Months Ended

Jun. 30, 2021

Financial Costs and Gain/(loss) on Derivatives

Schedule of financial costs and gain/(loss) on derivatives

An analysis of financial costs is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Amortization and write-off of deferred loan issuance costs	1,480	1,215	2,985	2,439
Interest expense on loans	11,466	7,716	24,900	15,599
Lease expense	9	4	19	9
Commitment fees	78	76	208	151
Other financial costs including bank commissions	34	104	468	333
Total financial costs	13,067	9,115	28,580	18,531

An analysis of (gain)/loss on derivatives is as follows:

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Unrealized (gain)/loss on interest rate swaps held for trading (Note 11)	(1,034)	(1,962)	12,148	(5,569)
Unrealized (gain)/loss on forward foreign exchange contracts held for trading (Note 11)	(401)	—	69	—
Realized loss on interest rate swaps held for trading	832	2,365	1,125	4,653
Realized loss on forward foreign exchange contracts held for trading	234	—	409	—
Total (gain)/loss on derivatives	(369)	403	13,751	(916)

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Earnings per Unit ("EPU") (Tables)

6 Months Ended

Jun. 30, 2021

Earnings per Unit ("EPU")

Schedule of earnings per unit

	For the three months ended		For the six months ended
	June 30, 2020	June 30, 2021	June 30, 2020	June 30, 2021
Profit for the period and Partnership’s profit	8,213	14,663	22,382	50,023
Adjustment for:
Paid and accrued preference unit distributions	(7,582)	(7,582)	(15,164)	(15,164)
Partnership’s profit attributable to:	631	7,081	7,218	34,859
Common unitholders	617	6,933	7,063	34,127
General partner	14	148	155	732
Weighted average number of units outstanding (basic)
Common units	46,713,991	48,161,285	46,739,034	47,841,332
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Earnings per unit (basic)
Common unitholders	0.01	0.14	0.15	0.71
General partner	0.01	0.14	0.15	0.72
Weighted average number of units outstanding (diluted)
Common units*	49,460,033	50,425,047	49,402,714	50,016,601
General partner units	1,021,336	1,021,953	1,021,336	1,021,646
Earnings per unit (diluted)
Common unitholders	0.01	0.14	0.14	0.68
General partner	0.01	0.14	0.15	0.72

* Includes unvested awards with respect to the 2015 Plan and Class B units. After the conversion of the first tranche of 415,000 Class B units on July 1, 2020, the remaining 2,075,000 Class B units will become eligible for conversion on a one-for-one basis into common units at GasLog’s option in five tranches of 415,000 units per annum on July 1 of 2021 (Note 15), 2022, 2023, 2024 and 2025.

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Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2021

Commitments and Contingencies

Schedule of future gross minimum payments receivable in relation to non-cancellable time charter agreements

Period	June 30, 2021
Not later than one year		200,081
Later than one year and not later than two years		133,425
Later than two years and not later than three years		83,232
Later than three years and not later than four years		50,280
Later than four years and not later than five years		41,879
Total	$	508,897

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Organization and Operations (Details) - item			6 Months Ended
	Jun. 30, 2021	May 12, 2014	Jun. 30, 2021
Organization and Operations
Number of LNG carriers acquired on IPO		3
Number of vessels owned	15		15
Number of subsidiaries established or acquired			0
All subsidiaries
Organization and Operations
Ownership interest in subsidiary (in percent)	100.00%
GasLog Ltd. | GasLog Partners LP
Organization and Operations
Ownership interest in subsidiary (in percent)	33.30%
General partner interest in GasLog Partners	2.00%		2.00%
GasLog Ltd. | General partner
Organization and Operations
Ownership interest in subsidiary (in percent)	100.00%

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Basis of Presentation - Cash flow information (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Change in accounting policy
Net cash provided by operating activities	$ 113,017	$ 110,058	[1]
Net cash used in investing activities	(14,718)	(11,720)
Net cash used in financing activities	(82,219)	(123,012)	[1]
(Decrease)/increase in cash and cash equivalents	$ 16,080	(24,674)
As previously reported
Change in accounting policy
Net cash provided by operating activities		66,224
Net cash used in investing activities		(11,720)
Net cash used in financing activities		(79,178)
(Decrease)/increase in cash and cash equivalents		(24,674)
Adjustments
Change in accounting policy
Net cash provided by operating activities		43,834
Net cash used in financing activities		$ (43,834)

[1] Restated so as to reflect a change in accounting policy introduced on January 1, 2021, with respect to the reclassification of interest paid and movements of cash collateral for interest rate swaps (Note 2).

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Basis of Presentation - Going concern (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Basis of Presentation
Current assets	$ 141,581	$ 125,728
Current liabilities	183,195	185,207
Working capital position	(41,614)
Unearned revenue	$ 25,305	$ 25,828

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Related party transactions - Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Balances with related parties
Amounts due to related parties	$ 1,466	$ 7,525
GasLog LNG Services
Balances with related parties
Amounts due to related parties	1,392	7,361
GasLog Ltd.
Balances with related parties
Amounts due to related parties	$ 74	$ 164

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Related party transactions - Summary of Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Transactions
General and administrative expense	$ 3,488	$ 4,421	$ 6,559	$ 8,592
Vessel operating costs	20,044	16,895	37,851	35,988
Financial costs	9,115	13,067	18,531	28,580
Gain (loss) on derivatives	403	(369)	(916)	13,751
GasLog Ltd. / GasLog LNG Services | Commercial management fee
Transactions
General and administrative expense	1,350	1,350	2,700	2,700
GasLog Ltd. | Administrative services fee
Transactions
General and administrative expense	1,177	1,959	2,354	3,919
GasLog Ltd. | Commitment fee under Sponsor Credit Facility
Transactions
Financial costs	76	76	151	152
GasLog Ltd. | Realized loss on interest rate swaps held for trading
Transactions
Gain (loss) on derivatives	1,373	832	2,692	1,125
GasLog Ltd. | Realized loss on forward foreign exchange contracts held for trading
Transactions
Gain (loss) on derivatives		234		409
GasLog LNG Services | Management fees
Transactions
Vessel operating costs	$ 1,932	1,932	3,864	3,864
GasLog LNG Services | Other vessel operating costs
Transactions
Vessel operating costs		$ 20	$ 10	$ 30

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Related party transactions - General (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Related Party Transactions
Borrowings outstanding balance		$ 1,285,543	$ 1,233,144
GasLog Ltd. | Administrative services fee
Related Party Transactions
Annual fee per vessel	$ 314	523
Sponsor Credit Facility | GasLog Ltd.
Related Party Transactions
Amount of credit facility			30,000
Borrowings outstanding balance		$ 0	$ 0

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Tangible Fixed Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021 USD ($)
Tangible fixed assets
Balance, at the beginning of the period	$ 2,206,618
Balance, at the end of the period	2,174,891
Cost
Tangible fixed assets
Balance, at the beginning of the period	2,876,548
Additions	9,503
Fully amortized dry-docking component	(8,626)
Balance, at the end of the period	2,877,425
Accumulated depreciation and impairment
Tangible fixed assets
Balance, at the beginning of the period	(669,930)
Depreciation expense	(41,230)
Fully amortized dry-docking component	8,626
Balance, at the end of the period	(702,534)
Vessels
Tangible fixed assets
Balance, at the beginning of the period	2,203,899
Balance, at the end of the period	2,172,172
Vessels | Cost
Tangible fixed assets
Balance, at the beginning of the period	2,873,829
Additions	9,503
Fully amortized dry-docking component	(8,626)
Balance, at the end of the period	2,874,706
Vessels | Accumulated depreciation and impairment
Tangible fixed assets
Balance, at the beginning of the period	(669,930)
Depreciation expense	(41,230)
Fully amortized dry-docking component	8,626
Balance, at the end of the period	(702,534)
Other tangible assets
Tangible fixed assets
Balance, at the beginning of the period	2,719
Balance, at the end of the period	2,719
Other tangible assets | Cost
Tangible fixed assets
Balance, at the beginning of the period	2,719
Balance, at the end of the period	$ 2,719

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Partners' Equity - Cash distribution (Details) - USD ($) $ / shares in Units, $ in Thousands								6 Months Ended
	Jun. 14, 2021	May 13, 2021	Apr. 28, 2021	Mar. 15, 2021	Feb. 19, 2021	Feb. 11, 2021	Jan. 27, 2021	Jun. 30, 2021	Jun. 30, 2020
Owners' Capital/Partners' Equity
Amount paid								$ 16,134	$ 47,885
Common units
Owners' Capital/Partners' Equity
Cash distribution declared			$ 0.01				$ 0.01
Amount paid		$ 485				$ 485
Preference units
Owners' Capital/Partners' Equity
Amount paid	$ 7,582			$ 7,582
Series A preference units
Owners' Capital/Partners' Equity
Cash distribution declared		$ 0.5390625			$ 0.5390625
Series B preference units
Owners' Capital/Partners' Equity
Cash distribution declared		0.5125			0.5125
Series C preference units
Owners' Capital/Partners' Equity
Cash distribution declared		$ 0.53125			$ 0.53125

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Partners' Equity - Additional (Details) $ in Thousands		6 Months Ended
	Apr. 06, 2021 EquityInstruments shares	Jun. 30, 2021 USD ($) shares	Jun. 30, 2020 shares
RCUs
Equity transactions
Number of units vested during the period | EquityInstruments	5,984
PCUs
Equity transactions
Number of units vested during the period | EquityInstruments	2,992
ATM Programme | GasLog Ltd.
Equity transactions
General partner interest in GasLog Partners		2.00%
Common units
Equity transactions
Number of units issued in share-based payment	8,976	8,976	68,432
Number of common units in public offering or general partner units		3,195,401
Common units | ATM Programme
Equity transactions
Number of common units in public offering or general partner units		3,195,401
Net proceeds from issuance of units | $		$ 9,593
General partner units
Equity transactions
Number of common units in public offering or general partner units		56,158
General partner units | ATM Programme
Equity transactions
Number of common units in public offering or general partner units		56,158
Net proceeds from issuance of units | $		$ 205

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Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Borrowings
Amounts due within one year	$ 109,673	$ 109,673
Less: unamortized deferred loan issuance costs	(4,608)	(4,765)
Borrowings - current portion	105,065	104,908
Amounts due after one year	1,140,403	1,195,241
Less: unamortized deferred loan issuance costs	(12,324)	(14,606)
Borrowings - non-current portion	1,128,079	1,180,635
Total	$ 1,233,144	$ 1,285,543

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Borrowings - Additional Infromation (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Borrowings
Borrowings repayments	$ 54,838	$ 55,805

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Other Payables and Accruals (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Other Payables and Accruals
Unearned revenue	$ 25,305	$ 25,828
Accrued off-hire	6,748	1,802
Accrued purchases	7,999	4,187
Accrued interest	10,281	10,855
Other accruals	5,114	8,007
Total	$ 55,447	$ 50,679

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Revenues (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues
Revenues	$ 70,352	$ 84,448	$ 157,440	$ 175,801
Long-term time charters
Revenues
Revenues	42,881	63,925	$ 92,915	131,570
Long-term time charters | Minimum
Revenues
Initial duration of charter party agreement			5 years
Spot time charters
Revenues
Revenues	$ 27,471	$ 20,523	$ 64,525	$ 44,231
Spot time charters | Maximum
Revenues
Initial duration of charter party agreement			5 years

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General and Administrative Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
General and Administrative Expenses
Administrative services fees (Note 3)	$ 1,177	$ 1,959	$ 2,354	$ 3,919
Commercial management fees (Note 13)	1,350	1,350	2,700	2,700
Share-based compensation	94	362	167	659
Other expenses	867	750	1,338	1,314
Total	$ 3,488	$ 4,421	$ 6,559	$ 8,592

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Vessel Operating Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Vessel Operating Costs
Crew costs	$ 9,675	$ 8,780	$ 18,647	$ 17,619
Technical maintenance expenses	5,848	4,142	10,214	10,079
Other operating expenses	4,521	3,973	8,990	8,290
Total	$ 20,044	$ 16,895	$ 37,851	$ 35,988

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Derivative Financial Instruments - Fair value of the derivative liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Fair value of the derivative assets and liabilities
Derivative financial instruments, current liability	$ 7,632	$ 8,185
Derivative financial instruments, non-current liability	7,136	12,152
Derivative liability	14,768	20,337
Financial liabilities carried at fair value through profit or loss (FVTPL)
Fair value of the derivative assets and liabilities
Derivative liability	14,768	20,337
Financial liabilities carried at fair value through profit or loss (FVTPL) | Interest rate swaps
Fair value of the derivative assets and liabilities
Derivative liability	$ 14,768	$ 20,337

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Derivative Financial Instruments - Derivative contracts (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Forward foreign exchange contracts held for trading
Forward foreign exchange contracts held for trading
Unrealized gain (loss) on derivatives held for trading	$ 0	$ 401	$ 0	$ (69)
Interest rate swaps held for trading
Forward foreign exchange contracts held for trading
Unrealized gain (loss) on derivatives held for trading	$ 1,962	$ 1,034	$ 5,569	$ (12,148)

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Financial Costs and Gain/(loss) on Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Financial costs
Amortization and write-off of deferred loan issuance costs	$ 1,215	$ 1,480	$ 2,439	$ 2,985
Interest expense on loans	7,716	11,466	15,599	24,900
Lease expense	4	9	9	19
Commitment fees	76	78	151	208
Other financial costs including bank commissions	104	34	333	468
Total financial costs	9,115	13,067	18,531	28,580
Total (gain)/loss on derivatives	403	(369)	(916)	13,751
Interest rate swaps held for trading
Financial costs
Unrealized (gain)/loss on derivative financial instruments held for trading	(1,962)	(1,034)	(5,569)	12,148
Realized loss on derivative financial instruments held for trading	2,365	832	4,653	1,125
Forward foreign exchange contracts held for trading
Financial costs
Unrealized (gain)/loss on derivative financial instruments held for trading	$ 0	(401)	$ 0	69
Realized loss on derivative financial instruments held for trading		$ 234		$ 409

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Earnings per Unit ("EPU") (Details) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
	Jul. 01, 2020 tranche shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2020 USD ($) $ / shares shares	Dec. 31, 2020 shares	Dec. 31, 2019 shares
Earnings per unit
Profit for the period | $		$ 14,663	$ 8,213	$ 50,023	$ 22,382
Paid and accrued preference unit distributions | $		(7,582)	(7,582)	(15,164)	(15,164)
Partnership's profit attributable to unitholders and partner | $		7,081	631	34,859	7,218
Common units
Earnings per unit
Profit for the period | $				34,127	7,063
Partnership's profit attributable to unitholders and partner | $		$ 6,933	$ 617	$ 34,127	$ 7,063
Weighted average number of units outstanding (basic)
Weighted average number of units outstanding (basic)		48,161,285	46,713,991	47,841,332	46,739,034
Earnings per unit (basic)
Earnings per unit (basic) | $ / shares		$ 0.14	$ 0.01	$ 0.71	$ 0.15
Weighted average number of units outstanding (diluted)
Weighted average number of units outstanding (diluted)		50,425,047	49,460,033	50,016,601	49,402,714
Earnings per unit (diluted)
Earnings per unit (diluted) | $ / shares		$ 0.14	$ 0.01	$ 0.68	$ 0.14
Number of units outstanding		50,722,201	46,737,124	50,722,201	46,737,124	47,517,824	46,860,182
General partner units
Earnings per unit
Profit for the period | $				$ 732	$ 155
Partnership's profit attributable to unitholders and partner | $		$ 148	$ 14	$ 732	$ 155
Weighted average number of units outstanding (basic)
Weighted average number of units outstanding (basic)		1,021,953	1,021,336	1,021,646	1,021,336
Earnings per unit (basic)
Earnings per unit (basic) | $ / shares		$ 0.14	$ 0.01	$ 0.72	$ 0.15
Weighted average number of units outstanding (diluted)
Weighted average number of units outstanding (diluted)		1,021,953	1,021,336	1,021,646	1,021,336
Earnings per unit (diluted)
Earnings per unit (diluted) | $ / shares		$ 0.14	$ 0.01	$ 0.72	$ 0.15
Number of units outstanding		1,077,494	1,021,336	1,077,494	1,021,336	1,021,336	1,021,336
Class B units
Earnings per unit (diluted)
Number of units converted	415,000
Number of units outstanding	2,075,000	2,075,000	2,490,000	2,075,000	2,490,000	2,075,000	2,490,000
Conversion ratio of class B units into common units	1
Number of tranches remaining | tranche	5
Number of units in each tranche remaining	415,000

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Commitments and Contingencies (Details) $ in Thousands		1 Months Ended
	Jun. 30, 2021 USD ($) item	Mar. 31, 2019 item	Jul. 31, 2018 item
Commitments and Contingencies
Number of assumed off-hire days when each vessel will undergo scheduled dry-docking	30 days
Future gross minimum lease payments receivable	$ 508,897
Wartsila Greece | GasLog LNG Services
Commitments and Contingencies
Number of vessels under maintenance agreement | item			8
Samsung Heavy Industries Co., Ltd | GasLog LNG Services
Commitments and Contingencies
Number of vessels under maintenance agreement | item		11
Period of services to be provided (in years)		6 years
Number of vessels with ballast water management system installed | item	7
Not later than one year
Commitments and Contingencies
Future gross minimum lease payments receivable	$ 200,081
Later than one year and not later than two years
Commitments and Contingencies
Future gross minimum lease payments receivable	133,425
Later than two years and not later than three years
Commitments and Contingencies
Future gross minimum lease payments receivable	83,232
Later than three years and not later than four years
Commitments and Contingencies
Future gross minimum lease payments receivable	50,280
Later than four years and not later than five years
Commitments and Contingencies
Future gross minimum lease payments receivable	$ 41,879

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Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 26, 2021	Jul. 01, 2021
Common units
Subsequent Events
GasLog Partners declaration of distribution (USD/unit)	$ 0.01
Aggregate amount of the declared distribution	$ 518
Series A preference units
Subsequent Events
GasLog Partners declaration of distribution (USD/unit)	$ 0.5390625
Series B preference units
Subsequent Events
GasLog Partners declaration of distribution (USD/unit)	0.5125
Series C preference units
Subsequent Events
GasLog Partners declaration of distribution (USD/unit)	$ 0.53125
Conversion of Class B units held by GasLog Ltd | Common units
Subsequent Events
Number of units issued		415,000