Teekay LNG Partners Cash Flow Rises (Bermuda)

Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P., reported the Partnership’s results for the quarter ended December 31, 2012.

During the fourth quarter of 2012, the Partnership generated distributable cash flow of $53.6 million, compared to $44.1 million in the same quarter of the previous year.

The increase primarily reflects the incremental distributable cash flow resulting from the following acquisitions: a 52 percent interest in six liquefied natural gas (LNG) carriers acquired in February 2012; a 33 percent interest in two LNG carriers delivered between October 2011 and January 2012; and one Multigas carrier delivered in October 2011.

On January 18, 2013, the Partnership declared a cash distribution of $0.675 per unit for the quarter ended December 31, 2012. The cash distribution was paid on February 14, 2013 to all unitholders of record on February 4, 2013.

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LNG World News Staff, February 21, 2013; Image: