Business Context and Reporting Period
This Form 6-K filing by Teekay LNG Partners L.P. (NYSE: TGP) is dated March 2, 2006. The registrant is a Marshall Islands partnership formed by Teekay Shipping Corporation to expand operations in the liquefied natural gas (LNG) shipping sector. The company provides LNG and crude oil marine transportation services under long-term, fixed-rate contracts.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. The document serves as a notice of an upcoming investor presentation rather than a financial results report.
Material Changes and Fleet Status
- Fleet Composition: The Partnership currently operates a fleet of seven LNG carriers and five Suezmax class crude oil tankers.
- Expansion: Three of the seven LNG carriers are newbuildings scheduled for delivery in late 2006 and early 2007.
- Ownership Interest: Teekay LNG Partners will hold a 70% interest in the three newbuildings.
Guidance, Outlook, and Management Commentary
CEO Peter Evensen is scheduled to present at the 2006 Master Limited Partnership Investor Conference on March 9, 2006. The presentation will cover:
- Financial guidance for 2006 and 2007 (specific figures not included in this filing).
- Growth strategy.
- Fundamentals of the LNG shipping sector.
A slide presentation and live webcast are available on the company website, with an archive available for 90 days following the event.
Investor Verification Checklist
- Verify the specific 2006 and 2007 financial guidance figures presented at the March 9, 2006 conference.
- Confirm the delivery schedule and contract status for the three new LNG carriers.
- Review the terms of the long-term, fixed-rate contracts with major energy and utility companies.
- Assess the impact of the 70% ownership interest in newbuildings on future consolidated financial statements.