Teekay LNG Partners has ordered two newbuilds after sealing a charter agreement with BP for US export service.
BP Shipping will charter one LNG carrier from Teekay for 13 years and has an option for a second vessel under similar terms, exercisable by 30 September. BP will use the vessel or vessels to load LNG exports from the 13.2 million tonne/year Freeport LNG project in Quintana, Texas, which is currently under construction and due for completion in 2018.
Concurrent with the BP charter, Teekay has ordered two 174,000 cbm newbuilds from South Korea’s Hyundai Samho Heavy Industries for deliveries in 1Q19, plus an option for a third. Pricing was not disclosed.
Teekay LNG had previously secured charter agreements for two newbuilds to serve the Sabine Pass LNG export project in Louisiana.
“We are excited to be supporting our second US LNG export project and we look forward to continued growth in US LNG exports, which are expected to create substantial future demand for LNG transportation services,” said Teekay Corp chief executive Peter Evensen.