Teekay LNG stacks shelf

Teekay LNG Partners has set the scene for up to $500m in shares sales with a shelf registration.

New York-listed Teekay LNG will use any cash from offerings to help repay debt and fund working capital commitments, an SEC filing said. 

In the past month, Teekay LNG has booked six Yamal newbuildings and purchased a slice of four newbuildings at China’s Hudong-Zhonghua Shipbuilding.

The Yamal order has already been backed by a $95m equity issue.