Teekay LNG Partners Enters into Equity Distribution Agreement (Bermuda)

Teekay LNG Partners L.P. announced that it has filed a prospectus supplement with the Securities and Exchange Commission (SEC) through which it may, from time to time, issue common units representing limited partner interests with an aggregate offering price of up to $100 million through Citigroup Global Markets Inc. as sales agent.

Sales of common units, if any, will be made by means of ordinary brokers’ transactions on the New York Stock Exchange, in block transactions, or as otherwise agreed to between Teekay LNG and Citigroup.

Teekay LNG is under no obligation to issue common units under the equity distribution agreement. The Partnership intends to use the net proceeds from sales under this program for general partnership purposes, which may include, among other things, repaying or refinancing all or a portion of its outstanding indebtedness and funding future working capital requirements, capital expenditures or acquisitions.

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LNG World News Staff, May 23, 2013