UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
D.C. 20549
FORM
6-K
Report
of
Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
the
Securities Exchange Act of 1934
Date
of
report: December 6, 2006
Commission
file number 1- 32479
TEEKAY
LNG PARTNERS L.P.
(Exact
name of Registrant as specified in its charter)
Bayside
House
Bayside
Executive Park
West
Bay
Street & Blake Road
P.O.
Box
AP-59212, Nassau, Bahamas
(Address
of principal executive office)
[Indicate
by check mark whether the registrant files or will file annual reports under
cover Form 20-F or Form 40-F.]
|
Form
20-F
|
X
|
Form 40- F
|
[Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1):______]
|
Yes
|
No
|
X
|
[Indicate
by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7):______]
|
Yes
|
No
|
X
|
[Indicate
by check mark whether the registrant by furnishing the information contained
in
this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.]
|
Yes
|
No
|
X
|
[If
“Yes”
is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):82-_____]
Item
1 - Information Contained in this Form 6-K Report
Attached
as Exhibit I is a copy of an announcement of Teekay LNG Partners L.P. (the
“Partnership”), dated December 6, 2006.
THIS
REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE FOLLOWING
REGISTRATION STATEMENT OF THE PARTNERSHIP.
•
REGISTRATION STATEMENT ON FORM S-8 (NO. 333-124647) FILED WITH THE SEC ON
MAY 5,
2005
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
|
Date:
December 6, 2006
|
TEEKAY
LNG PARTNERS L.P.
By: /s/
Peter
Evensen
Peter
Evensen
Chief
Executive Officer and Chief Financial Officer
(Principal
Financial and Accounting Officer)
|
EXHIBIT
I
 |
TEEKAY
LNG PARTNERS L.P.
Bayside
House,
Bayside Executive Park, West Bay Street & Blake
Road
P.O.
Box AP-59212, Nassau,
Bahamas
|
NEWS
RELEASE
|
|
|
TEEKAY
LNG PARTNERS ANNOUNCES
ACQUISITION
OF FOUR LPG CARRIERS
|
Nassau,
The Bahamas, December 6, 2006 - Teekay LNG Partners L.P. (Teekay
LNG)
(NYSE:
TGP) announced today that it has agreed to acquire four liquefied petroleum
gas
(LPG)
carriers for a total cost of $106 million. Upon their delivery to Teekay
LNG,
all of the vessels will commence service under long-term fixed-rate
time-charters, and it is expected that they will generate approximately $11.6
million per annum in cash flow from vessel operations when all the vessels
are
delivered. Teekay LNG will initially finance the acquisition of these vessels
with borrowings under its revolving credit facilities, cash balances or
both.
Three
of
the LPG carriers are currently under construction and will be purchased from
IM
Skaugen ASA (Skaugen)
upon
their delivery from the shipyard between early 2008 and mid-2009. Upon their
delivery, the vessels will commence service on 15 year fixed-rate time-charters
to Skaugen. Skaugen operates a fleet of 44 vessels and is listed on the Oslo
Stock Exchange under the symbol “IMSK”.
Teekay
LNG will also acquire the 2000-built LPG carrier Dania Spirit from Teekay
Shipping Corporation (Teekay),
the
parent of our general partner, in January 2007. This vessel is currently
on a
fixed-rate time-charter to Statoil ASA with a remaining contract term of
nine
years.
“We
are
excited about these accretive transactions because they move the partnership
into another gas transportation market segment. LPG shipping is a natural
extension of our core liquefied natural gas (LNG)
transportation business, and Skaugen is a market leader in operating these
types
of vessels” said Peter Evensen, Teekay LNG’s Chief Executive Officer. Mr.
Evensen continued, “LPG is a by-product of natural gas separation and crude oil
refining, and is a major growth area for our customers. The sea borne trade
in
LPG is projected to grow by approximately 6% per annum through 2012, and
this
transaction provides us with a platform for future growth in this
market.”
Teekay
LNG Partners L.P. is a publicly-traded master limited partnership formed
by
Teekay Shipping Corporation (NYSE: TK) as part of its strategy to expand
its
operations in the liquefied natural gas (LNG) shipping sector. Teekay LNG
Partners L.P. provides LNG, liquefied petroleum gas (LPG)
and
crude oil marine transportation services under long-term, fixed-rate time
charter contracts with major energy and utility companies through its fleet
of
thirteen LNG carriers, four LPG carriers and eight Suezmax class crude oil
tankers. Eight of the thirteen LNG carriers and three of the LPG carriers
are
newbuildings scheduled for delivery between early 2007 and mid-2009.
Teekay
LNG Partners’ common units trade on the New York Stock Exchange under the symbol
“TGP”.
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more -
Forward
Looking Statements
This
release contains forward-looking statements (as defined in Section 21E of
the
Securities Exchange Act of 1934, as amended) which reflect management’s current
views with respect to certain future events and performance, including
statements regarding: the commencement dates of the charter contracts; the
annual cash flow from vessel operations expected from the charter contracts;
the
demand for LPG carriers and the Partnership’s potential for growth in this
market; the growing importance of LPG for our customers; and other potential
financial and other benefits relating to the charter contracts. The following
factors are among those that could cause actual results to differ materially
from the forward-looking statements, which involve risks and uncertainties,
and
that should be considered in evaluating any such statement: early termination
or
breach of one or more of the charter contracts; potential delays associated
with
building the LPG carriers; lower than anticipated LPG production; changes
in
applicable industry regulations; and other factors discussed in Teekay LNG's
Report on Form 20-F for the fiscal year ended December 31, 2005 which is on
file with the SEC. The Company expressly disclaims any obligation or undertaking
to release publicly any updates or revisions to any forward-looking statements
contained herein to reflect any change in the Company’s expectations with
respect thereto or any change in events, conditions or circumstances on which
any such statement is based.
For
Investor Relations enquiries contact:
Scott
Gayton
Tel:
+1
(604) 609-6442
For
Media enquiries contact:
Kim
Barbero
Tel:
+1
(604) 609-6433
Web
site:
www.teekaylng.com
-
end -