Teekay Group Announces Availability of Annual Reports on Form 20-F for Year Ended December 31, 2019; and Publishes 2019 Susta...
April 15 2020 - 6:59AM
Teekay Corporation (Teekay) (NYSE:TK), Teekay LNG Partners L.P.
(Teekay LNG) (NYSE:TGP) and Teekay Tankers Ltd. (Teekay Tankers)
(NYSE:TNK) (collectively, the Teekay Group) today announced that
their Annual Reports on Form 20-F for the fiscal year ended
December 31, 2019 (Annual Report) have been filed with the U.S.
Securities and Exchange Commission and can be accessed at
www.teekay.com, in the “Investors” section under “Financials and
Presentations” for each respective entity.
Shareholders and unitholders may also request a
hard copy of the Annual Reports, which includes the Teekay Group’s
complete 2019 audited financial statements, free of charge by
contacting investor relations via e-mail
at investor.relations@teekay.com or by phone at
+1-604-609-2963.
In addition, the Teekay Group has published its
2019 Sustainability Report, which can be accessed on the Teekay
Group’s website by clicking here.
“In early 2020, the world has been facing the
COVID-19 pandemic, which has impacted so many people around the
world. As we respond to these uncertain times and work to protect
against the spread of COVID-19, it is our collective responsibility
to maintain as our highest priority the health and well-being of
our employees, our families, and our communities,” commented
Kenneth Hvid, Teekay’s President and CEO. “As we are an integral
part of the world’s energy supply chain, our services continue to
be required and we remain focused on keeping our employees at sea
and onshore safe by following all government guidelines provided in
the countries where our staff live and work.”
“At the same time, as a leading oil and gas
transportation company, Teekay cannot separate ourselves from the
longer-term challenges that the world is facing. We have built our
company on a deep commitment to responsible safety and
environmental practices,” continued Mr. Hvid. “Over the past
decade, we have worked with industry to pioneer and invest in
increasingly more energy efficient vessels. For instance, our
latest LNG carrier newbuildings produce about 50% less CO2
emissions per cubic meter of LNG transported. As our industry has
set itself the challenge of progressively becoming carbon neutral
by 2050, we have an enormous task ahead of us. We are embarking on
new industry partnerships to drive necessary technological
developments and, we will in 2020, reassess our reporting framework
so that we have the best possible foundation for the important work
ahead of us.”
About Teekay
Teekay is a leading provider of international
crude oil and gas marine transportation services and also provides
offshore production and logistics. Teekay provides these services
primarily through its directly-owned fleet and its controlling
ownership interests in Teekay LNG Partners L.P. (NYSE:TGP), one of
the world’s largest independent owners and operators of LNG
carriers, and Teekay Tankers Ltd. (NYSE:TNK), one of the world’s
largest owners and operators of mid-sized crude tankers. The
consolidated Teekay entities manage and operate total assets under
management of approximately $11 billion, comprised of approximately
140 liquefied gas, conventional tanker, and offshore assets. With
offices in 10 countries and approximately 5,500 seagoing and
shore-based employees, Teekay provides a comprehensive set of
marine services to the world’s leading oil and gas companies.
Teekay’s common stock is listed on the New York
Stock Exchange where it trades under the symbol “TK”.
About Teekay LNG
Teekay LNG Partners is one of the world’s
largest independent owners and operators of LNG carriers, providing
LNG and LPG services primarily under long-term, fee-based charter
contracts through its interests in 47 LNG carriers, 23 mid-size LPG
carriers, and seven multi-gas carriers. Teekay LNG’s ownership
interests in these vessels range from 20 to 100 percent. In
addition, Teekay LNG owns a 30 percent interest in a regasification
terminal. Teekay LNG Partners is a publicly-traded master limited
partnership 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 and preferred
units trade on the New York Stock Exchange under the symbols “TGP”,
“TGP PR A” and “TGP PR B”, respectively.
About Teekay Tankers
Teekay Tankers currently has a fleet of 52
double-hull tankers (including 26 Suezmax tankers, 17 Aframax
tankers and nine LR2 product tankers), and two ship-to-ship support
vessels, and also has four time chartered-in tankers. Teekay
Tankers’ vessels are typically employed through a mix of short- or
medium-term fixed-rate time charter contracts and spot tanker
market trading. Teekay Tankers also owns a Very Large Crude Carrier
(VLCC) through a 50 percent-owned joint venture. In addition,
Teekay Tankers owns a ship-to-ship transfer business, a portion of
which Teekay Tankers has agreed to sell. Teekay Tankers was formed
in December 2007 by Teekay Corporation as part of its strategy to
expand its conventional oil tanker business.
Teekay Tankers’ Class A common stock trades on
the New York Stock Exchange under the symbol “TNK.”
For Investor Relations enquiries
contact:
Ryan HamiltonTel: +1 (604)
609-2963Website: www.teekay.com
Forward Looking Statement
This release contains forward-looking statements
(as defined in Section 21E of the Securities Exchange Act of 1934,
as amended) which reflect management’s current views with respect
to certain future events and performance, including statements,
among other things, regarding: the demand for the Teekay Group’s
services in light of the COVID-19 and the resulting market
volatility; the impact of the COVID-19 pandemic on the operations
of the Teekay Group and on the global economy; the anticipated
impact of Teekay LNG’s energy-efficient newbuildings on CO2
emissions; shipping industry goals and timelines for achieving
carbon neutrality; the expected impact of new industry
partnerships; and the timing of the Teekay Group’s assessment of
its existing reporting framework. The following factors are among
those that could cause actual results to differ materially from the
forward-looking statements, which involve risks and uncertainties,
and that should be considered in evaluating any such statement:
market or counterparty reaction to changes in exploration,
production and storage of offshore oil and gas; changes in the
demand for oil, refined products, LNG or LPG; changes in global oil
prices or tanker rates; issues with vessel operations; increased
operating expenses; changes in applicable industry laws and
regulations and the timing of implementation of new laws and
regulations; the impact of geopolitical tensions and changes in
global economic conditions; the severity, magnitude and duration of
the COVID-19 pandemic, including impacts of the pandemic and market
or regulatory responses to the pandemic on Teekay Group’s
operations, personnel, commercial activity and on global supply
chains; technological changes in the shipbuilding industry related
to energy efficiency and sustainability measures; and other factors
discussed in the Teekay Group’s filings from time to time with the
SEC, including in each of its Annual Reports on Form 20-F for the
fiscal year ended December 31, 2019. Teekay, Teekay LNG and Teekay
Tankers expressly disclaim any obligation or undertaking to release
publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in expectations with respect
thereto or any change in events, conditions or circumstances on
which any such statement is based.
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