Teekay LNG Partners L.P.
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
•
in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Mark Kremin
- Full Time Employees
- 2,119
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Address
- 4Th Floor, Belvedere Building, 69 Pitts Bay Road Pembroke Bermuda HM 08
- IPO Date
- May 5, 2005
- CIK
- 0001308106
- Website
- teekay.com
- Similar Companies
- Business
- Teekay LNG Partners L.P., now rebranded as Seapeak LLC following its conversion from a limited partnership to a limited liability company in February 2022, operates primarily in the marine energy transportation sector. The company provides liquefied natural gas (LNG), liquefied petroleum gas (LPG), and crude oil transportation services globally through a fleet comprising interests in 47 LNG carriers, 20 mid-size LPG carriers, and seven multi-gas carriers, with ownership stakes ranging from 20 to 100 percent. Additionally, Seapeak holds a 30 percent interest in an LNG regasification terminal. Founded in 2004 and headquartered in Hamilton, Bermuda, Seapeak serves customers primarily under long-term, fee-based charters, positioning itself as one of the world’s largest independent owners and operators of LNG carriers. The most significant recent corporate developments include the acquisition of Teekay LNG Partners by Stonepeak Infrastructure Partners in a $6.2 billion transaction, completed in early 2022, which resulted in the company’s rebranding to Seapeak and its delisting from the New York Stock Exchange. This strategic move aims to enhance the company’s access to competitively priced capital for fleet renewal and growth initiatives, supporting expansion in the LNG and LPG shipping markets. The transaction included Stonepeak’s acquisition of all common units and full control of the company’s general partner, along with the transfer of management services previously provided by Teekay Corporation. These changes reflect a strategic shift to private ownership with a focus on infrastructure investment in energy transition-related assets. Seapeak’s services encompass the marine transportation of liquefied gases, including LNG, LPG, and crude oil, with operations spanning key global LNG and LPG markets. The company’s fleet supports energy infrastructure by providing essential shipping services that enable the delivery of cleaner-burning natural gas as a bridge fuel in the global energy transition. Seapeak operates in an industry segment focused on energy shipping and infrastructure, leveraging long-term contract structures that provide stable cash flows with global geographic reach, particularly in regions with growing LNG demand such as North America, Europe, and Asia. Overall, Seapeak continues to play a pivotal role in the energy supply chain, offering specialized liquefied gas transportation and terminal services that align with global shifts towards cleaner energy sources. The company’s strategic transition to private ownership and expanded access to capital position it for continued growth and fleet modernization in the evolving marine energy transportation market.
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