Americas News
Teekay in "Pioneering Transaction" for Two Fuel-Saving LNG Carriers
Teekay LNG Partners L.P. [NYSE:TGP] (Teekay LNG) says it has signed two time-charter contracts to provide liquefied natural gas (LNG) services for exports from the U.S. Sabine Pass LNG export facility using fuel-efficient vessels.
The five-year, fixed-rate contracts with Cheniere Marketing LLC will be served by two 173,400 cubic meter LNG newbuildings that Teekay LNG ordered in December 2012, which are scheduled for delivery from Daewoo Shipbuilding & Marine Engineering in the first half of 2016.
The vessels will feature M-type Electronically Controlled, Gas Injection (MEGI) twin engines, allowing greater fuel efficiency and lower emission levels than other engines used in LNG shipping.
"We are excited to be supporting Cheniere, which will be exporting volumes from the Sabine Pass LNG export facility, the first LNG export facility project in the contiguous United States to receive approval for LNG exports," said Peter Evensen, Chief Executive Officer of Teekay GP LLC.
"This is a pioneering transaction which combines one of the first U.S. LNG export facilities with the first MEGI-propelled LNG carriers to be chartered."
