IM Skaugen buying two gas carriers from Teekay as it divests stake in SPT

IM Skaugen buying two gas carriers from Teekay as it divests stake in SPT

Oslo: IM Skaugen is selling all of its 50% economic interests in SPT, a ship-to-ship oil and gas transfer company, to a subsidiary of Teekay Corporation. Teekay already has a 50% stake in SPT. As part of the deal, IM Skaugen will also eventually take over two 2011-built, 12,000 cu m multigas carriers that are currently on a lease to the company from Teekay LNG Partners.

“The divestment of our share in the JV of the SPT activities will improve the group’s balance sheet and working capital position, and enable the company to better execute on its LNG strategy,” IM Skaugen said in a release.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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