Teekay LNG Partners Increases Cash Distribution by 2.5 Percent

HAMILTON, BERMUDA--(Marketwired - Jan. 15, 2014) - Teekay GP LLC, the general partner of Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP), has declared a cash distribution of $0.6918 per unit for the quarter ended December 31, 2013, an increase of 2.5 percent over the cash distribution of $0.675 per unit for the quarter ended September 30, 2013. The cash distribution for the quarter ended December 31, 2013 is payable on February 14, 2014 to all unitholders of record on January 31, 2014.

The increase to the fourth quarter distribution coincides with the completion of the purchase-leaseback of two liquefied natural gas (LNG) carrier newbuildings from Awilco LNG ASA in September and November 2013.

About Teekay LNG Partners L.P.

Teekay LNG Partners L.P. is the world's second largest independent owner and operator of LNG vessels, providing LNG, liquefied petroleum gas (LPG) and crude oil marine transportation services primarily under long-term, fixed-rate charter contracts with major energy and utility companies through its interests in 34 LNG carriers (including one LNG regasification unit and five newbuildings), 33 LPG/Multigas carriers (including five chartered-in LPG carriers and 12 newbuildings) and 10 conventional tankers. The Partnership's interests in these vessels ranges from 33 to 100 percent. Teekay LNG Partners L.P. is a publicly-traded master limited partnership (MLP) formed by Teekay Corporation (NYSE:TK) as part of its strategy to expand its operations in the LNG and LPG shipping sectors.

Teekay LNG Partners' common units trade on the New York Stock Exchange under the symbol "TGP".