Teekay LNG Partners, the publicly-traded Teekay Corporation MLP, has entered into a 15-year time-charter contract with the Yamal LNG project to provide conventional LNG transportation services.
Teekay LNG will fulfil the contract utilising a previously unchartered 174,000 cu m LNG carrier newbuilding, currently scheduled for delivery early in 2019.
“We are pleased that our commercial team has secured this new 15-year charter contract which expands our service offering to the now fully-financed Yamal LNG project and reduces our uncommitted newbuildings to only one vessel,” commented Peter Evensen, CEO of Teekay.
Yamal LNG is currently scheduled to commence production in 2017.