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Hamilton, Bermuda - Marketwired - May 14, 2015
Highlights:
Generated distributable cash flow of $66.2 million in the first quarter of 2015, up 10 percent from the same period of the previous year.
In February 2015, ordered one LNG carrier newbuilding and received options to order up to four additional LNG carriers. In January 2015, the Exmar LPG joint venture took delivery of the fourth of its 12 LPG carrier newbuildings.
Total liquidity of approximately $370 million as at March 31, 2015, giving pro -forma effect to the USD equivalent $130 million Norwegian Kroner bond offering completed in early-May 2015.
Teekay GP L.L.C., the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), today reported the Partnership's results for the quarter ended March 31, 2015.
During the first quarter of 2015, the Partnership generated distributable cash flow(1) of $66.2 million, compared to $60.1 million in the same period of the prior year. The increase in distributable cash flow was primarily due to lower interest expense resulting from the December 2014 termination of capital leases and the subsequent refinancing of three 70 percent -owned liquefied natural gas (LNG) carriers, fewer …
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Teekay LNG Partners L.P. press release