LNG

Nov 5 (LNGJ) - Teekay LNG Partners said it generated distributable cash flow of $61.1 million in the third quarter, down from $64.2M in the same period of 2014. The decrease is blamed on the ending of several charter contracts, including its 52 percent-owned "Magellan Spirit" LNG carrier in March 2015. The same vessel had been involved in an incident whereby it ran aground in soft mud in the Niger Delta near the Nigerian LNG plant on January 5. Peter Evensen, Chief Executive of Teekay GP, commented: "Our project teams remain focused on the execution of the partnership's growth portfolio, including delivery of the world's first ever MEGI LNG carrier newbuildings. These vessels will both operate under fee-based charter contracts with Cheniere Energy to export LNG from Cheniere's Sabine Pass LNG export facility, which is expected to ship its first LNG cargo in early 2016."