Teekay LNG’s first Floating Storage Unit (FSU) has been successfully delivered to charterer Bahrain LNG. The vessel delivered from the yard at the end of August, before going on hire on 19 September, 2018.

The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain. The project is 30% owned by Teekay LNG Partners (TGP) and is expected to commence commercial operation in early 2019.

About Teekay LNG

Teekay LNG Partners (NYSE:TGP) is one of the world’s largest independent owners and operators of LNG carriers, providing LNG, LPG and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts through its interests in 50 LNG carriers (including one LNG regasification unit and 19 newbuildings), 29 LPG/Multigas carriers (including three in-chartered LPG carriers and five newbuildings) and six conventional tankers. The Partnership’s interests in these vessels range from 20 to 100 percent.
Teekay LNG Partners L.P. is a publicly-traded master limited partnership (MLP) formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners’ common units trade on the New York Stock Exchange under the symbol “TGP”.

About Bahrain LNG

Bahrain LNG WLL is a newly formed company for the development of a Liquefied Natural Gas (LNG) receiving and regasification terminal within the Khalifa bin Salman Port facility, in Hidd, Bahrain. The company is owned 30% by The Oil & Gas Holding Company of Bahrain (nogaholding), 30% by Teekay LNG Partners, 16% by Samsung C&T and 24% by the Gulf Investment Corporation (GIC).