The partnership intends to finance the installment payments during construction with a portion of its existing liquidity at approximately $420m as at 30 September 2012, and expects to secure long term employment for both vessels prior to their delivery in the first half of 2016.
“The delivery of these vessels is timed to coincide with the next wave of increased demand for LNG carriers which is expected when a large number of new LNG export projects come on-stream commencing from late-2015,” said Peter Evensen, ceo of Teekay GP.
“With scheduled delivery in 2016, we believe that we are well-positioned to charter these LNG newbuildings on fixed-rate charter contracts prior to their delivery, thereby providing Teekay LNG with visible built-in growth,” he added.
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