Stonepeak Boosts Gas Portfolio with $6.2 Billion Teekay LNG Acquisition

Stonepeak is offering $17 per unit to acquire all the issued and outstanding common units in Teekay LNG, one of the world’s largest independent owners and operators of LNG carriers.

Hart Energy Staff

Stonepeak agreed to buy Teekay LNG Partners on Oct. 4 marking the second multibillion-dollar investment recently made by the New York-based firm in the LNG space.

“Stonepeak has long recognized the growing global demand for LNG and importance of natural gas as a bridge fuel, particularly as the world continues to shift toward cleaner sources of energy,” James Wyper, senior managing director at Stonepeak, commented in a joint release.

Teekay LNG is one of the world’s largest independent owners and operators of LNG carriers, providing LNG and LPG services primarily under long-term, fee-based charter contracts. The company is a publicly traded MLP formed by Teekay Corp. as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

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