Teekay Subsidiary Declares Dividend
Teekay GP LLC, the general partner of Teekay LNG Partners LP yesterday [Jan.19] declared a cash distribution of $0.63 per unit for the quarter ended December 31, 2011.
The cash distribution is payable on February 14, 2012 to all unitholders of record on February 1, 2012.
Teekay LNG Partners LP is a publicly-traded master limited partnership formed by Bermuda’s Teekay Corporation as part of its strategy to expand its operations in the liquid natural gas [LNG] and liquefied petroleum gas [LPG] shipping sectors.
Teekay LNG Partners LP provides LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts with major energy and utility companies through its fleet of 21 LNG carriers [including one LNG regasification unit], five LPG/Multigas carriers and 11 conventional tankers.
Teekay LNG Partners’ interests in these vessels ranges from 33 to 100 percent.
In addition, Teekay LNG Partners, through its joint venture with Marubeni Corporation, has agreed to acquire ownership interests in eight LNG carriers and expects this transaction to close in early 2012.
