Teekay LNG Partners, L.P. (NYSE:TGP) provides liquified natural gas ("LNG"), liquified petroleum gas ("LPG"), and crude oil marine transportation services through its interests in 34 LNG carriers (including one LNG regasification unit and five newbuildings), 31 LPG/Multigas carriers (including four chartered-in LPG carriers and 11 newbuildings), and nine conventional tankers. TGP is the second largest independent owner and operator of LNG carriers in the world.
TGP is structured as a master limited partnership, and is sponsored by Teekay Corporation (NYSE:TK), which controls TGP's general partner. As such, TK is indirectly entitled, as an incentive fee, to distributable cash streams from TGP after certain thresholds have been met.
Liquified Natural Gas - A Robust but Highly Demanding...
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