LNG

Jan 14 (LNGJ) - Teekay LNG Partners, the LNG fleet owner, announced that the previously announced acquisition of the Partnership by units of US investment fund Stonepeak has now been completed and Teekay LNG Partners will rebrand as Seapeak. The common shares, which trade on the New York Stock Exchange, are now suspended from trading and will delist from the NYSE within 10 days.

   However, the Partnership’s Series A and B preferred units, which trade on the NYSE under the ticker symbols “TGP PR A” and “TGP PR B”, respectively, will remain outstanding and continue to trade on the NYSE. “The Partnership intends to convert to a limited liability company during the first quarter of 2022, at which time it will change its name to Seapeak LLC and change its Series A and B preferred units ticker symbols to “SEAL PR A” and “SEAL PR B”, respectively,” added the statement.

Italian energy company Eni, with recent natural gas discoveries in nations such as Mozambique and Egypt, has signed an accord with the Gulf kingdom of Bahrain covering issues like LNG supply and exploration.

Teekay LNG Partners has reported an increase in net income for the second quarter of this year.

Dec 11 (LNGJ) - Teekay LNG Partners, the US-listed fleet owner, completed an $816 million long-term debt facility agreement to finance all six of the partnership’s 50-percent owned ARC7 LNG carrier newbuilds, with the first vessel to be delivered in January 2018 and the remaining vessels through to early-2020.  The ships will service the Yamal LNG project under charter contracts with firm periods out to 2045 plus options. “Together with our joint venture partner, China LNG Shipping, we are pleased to announce this significant project milestone for our ARC7 LNG carrier newbuildings,” said Brody Speers, Chief Financial Officer of Teekay Gas Group. “With the completion of this ARC7 financing, the partnership has now completed $2.2 billion in debt financings for our newbuildings in the past 12 months and has financed 14 of its remaining 15 LNG carrier newbuildings, which include one floating storage unit,” added Speers.

Norwegian company Aqualis Offshore has been contracted by the Hyundai Samho Heavy Industries shipyard in South Korea to provide an engineering study of a newbuild LNG carrier the yard is constructing for Teekay LNG.

Oct 18 (LNGJ) - Teekay LNG Partners, the New York Stock exchange-listed, carrier-owning affiliate of Teekay Corp., said it intended to issue new five-year senior unsecured bonds in the Norwegian bond market. The net proceeds from the bonds are expected to be used for refinancing other Norwegian crown-denominated bonds maturing in May 2017 and general partnership purposes, including the funding of newbuild ship instalments. Teekay LNG expects to apply for the listing of the bonds on the Oslo Stock Exchange. The shipping partnership has appointed regional banks and brokerages as joint lead managers for the sale. They are Danske Bank Markets, DNB Markets, Nordea Markets and Swedbank Norway.

The oil investment company of the Arab Gulf nation of Bahrain has borrowed $570 million from Japanese and European banks to help finance the island’s first LNG import facility and to upgrade an oil refinery.