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FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp

Teekay Lng Partners Lp · Feb 20, 2015 · 13 slides

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Slides

  1. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 1
    TEEKAY LNG PARTNERS FOURTH QUARTER 2014 EARNINGS PRESENTATION February 20, 2015
  2. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 2
    Recent Highlights Generated Q4-14 distributable cash flow* of 69.0 million, up 9% from Q4-13 Declared a Q4-14 cash distribution of 0.70 per unit, an increase of 1.2% from the previous quarter Strong Q4-14 coverage ratio of 1.09x…
  3. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 3
    Strategic LNG Contracts with Shell In December 2014, secured time-charter agreements with Shell for 5 MEGI LNG newbuildings Scheduled for delivery in 2H-2017 into 2018 Durations: 6 - 8 years (plus extension options) Further…
  4. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 4
    Minimal Near-term Impact on Many LNG Projects due to Lower Oil Prices Only marginal and high-cost projects are facing uncertainty LNG Spot Prices Asia LNG LNG price is falling, weakening Atlantic to 20 UK NBP Pacific arbitrage trade…
  5. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 5
    Growing Forward Fee-Based Revenues With Diversified Customer Base Forward Fee-Based Average Remaining Contract Revenues by Segment Length by Segment 93% LNG Carriers 13 Years 11.3B* Total Forward LPG Carriers 7 Years*…
  6. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 6
    Distributable Cash Flow and Coverage Q4-14 vs. Q3-14 Three Months Ended Three Months Ended December 31, 2014 September 30, 2014 (Thousands of U.S. Dollars except coverage ratio information) (unaudited) (unaudited) Net voyage…
  7. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 7
    Expanding TGPs Growth Pipeline Continue to bid on several LNG and FSRU projects for start-up in 2017 onwards Growth Projects by Segment Growth Project Deliveries 2015 2016 2017 2018 2019 2020 94% Yamal LNG Newbuilds (50%) MEGI…
  8. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 8
    Appendix 9
  9. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 9
    Teekay LNG Capital Commitments Teekay LNGs remaining capital commitments relating to its portion of newbuildings as at December 31, 2014, including recent newbuilding announcements: (in Millions) 2015 2016 2017 2018 2019 2020…
  10. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 10
    Adjusted Operating Results Three Months Ended Q4-14 December 31, 2014 (in thousands of U.S. Dollars) Reclass for Realized Appendix A Gains/Losses on TGP Adjusted Income As Reported Items (1) Derivatives (2) Statement NET VOYAGE…
  11. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 11
    Adjusted Operating Results Q3-14 Three Months Ended September 30, 2014 (in thousands of U.S. Dollars) Reclass for Realized Appendix A Items Gains/Losses on TGP Adjusted As Reported (1) Derivatives (2) Income Statement NET VOYAGE…
  12. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 12
    2014 Actual & 2015 Est. Drydock Schedules March 31, 2015 (E) June 30, 2015 (E) September 30, 2015 (E) December 31, 2015 (E) Total 2015 Total Total Total Total Total Vessels Vessels Vessels Vessels Vessels Offhire Offhire Offhire…
  13. FOURTH QUARTER 2014 EARNINGS PRESENTATION – Teekay Lng Partners Lp – slide 13

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