Teekay LNG Partners Increases Cash Distribution by 2.5 Percent
January 15 2014 - 4:15PM
Marketwired
Teekay LNG Partners Increases Cash Distribution by 2.5 Percent
HAMILTON, BERMUDA--(Marketwired - Jan 15, 2014) - Teekay GP LLC,
the general partner of Teekay LNG Partners L.P. (Teekay
LNG or the Partnership) (NYSE:TGP), has declared a
cash distribution of $0.6918 per unit for the quarter ended
December 31, 2013, an increase of 2.5 percent over the cash
distribution of $0.675 per unit for the quarter ended September 30,
2013. The cash distribution for the quarter ended December 31, 2013
is payable on February 14, 2014 to all unitholders of record on
January 31, 2014.
The increase to the fourth quarter distribution coincides with
the completion of the purchase-leaseback of two liquefied natural
gas (LNG) carrier newbuildings from Awilco LNG ASA in
September and November 2013.
About Teekay LNG Partners L.P.
Teekay LNG Partners L.P. is the world's second largest
independent owner and operator of LNG vessels, providing LNG,
liquefied petroleum gas (LPG) and crude oil marine
transportation services primarily under long-term, fixed-rate
charter contracts with major energy and utility companies through
its interests in 34 LNG carriers (including one LNG regasification
unit and five newbuildings), 33 LPG/Multigas carriers (including
five chartered-in LPG carriers and 12 newbuildings) and 10
conventional tankers. The Partnership's interests in these vessels
ranges from 33 to 100 percent. Teekay LNG Partners L.P. is a
publicly-traded master limited partnership (MLP) formed by
Teekay Corporation (NYSE:TK) as part of its strategy to expand its
operations in the LNG and LPG shipping sectors.
Teekay LNG Partners' common units trade on the New York Stock
Exchange under the symbol "TGP".
Teekay LNG Partners L.P.Ryan HamiltonInvestor Relations
Enquiries+1 (604) 609-6442www.teekaylng.com
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