BUSINESS

Teekay Celebrates the Formal Delivery of LNG Vessels, Lobito and Cubal

11/07/2011


On October 31, the Teekay team participated in a naming ceremony at Samsung shipyard in Korea. The last two of the four LNG carriers that we have built for the Angola LNG trade are chartered to Angola LNG Supply Services. Teekay and partner NYK will technically manage two vessels each.

Lobito and Cubal – named after Angolan cities – were officially named by godmothers, Ms. Arnalda Vandunem and Ms. Filomena Oliveira, from Angola's oil and gas company, Sonangol. The vessels are the first in our fleet to be TFDE -Tri Fuel Diesel Electric - and can burn heavy fuel oil, diesel, or natural gas.

Now begins the next phase of the project as Lobito began its 20 year charter, with Captain Susheel Hrishikesh at the helm and some Angolan cadets in his crew. Safe sailing to all onboard.

Teekay Group

NYSE: TGP

Teekay LNG Partners L.P. generates stable cash flows from long-term fixed-rate contracts with strong counterparties. LNG demand is expected to grow by 50% by 2030

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NYSE: TOO

Teekay Offshore Partners L.P. generates stable cash flows from fixed-rate contracts and is the world’s largest owner and operator of shuttle contracts

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NYSE: TNK

Teekay Tankers Ltd. has a balanced chartering strategy of fixed-rate and spot market contracts that can pay a dividend in virtually any spot tanker market

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NYSE: TK

Teekay Corporation is financially strong with a unique business platform and leading positions in promising midstream marine growth sectors

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