The Teekay Multigas Pool was established in 2017 as an in-house commercial management solution for ethylene-capable liquefied petroleum gas (LPG) and small-scale liquefied natural gas (LNG) vessels.
The Teekay Multigas Pool will bring Teekay’s seven directly-owned ethylene-capable LPG carriers, some of which are also capable of small-scale LNG shipping, under the new management structure. Additionally, the Pool will manage third party partner vessels.
What does the future hold in this space? According to CEO of Teekay Gas Group Ltd., Mark Kremin, “We believe there are opportunities to consolidate the ethylene and small-scale LNG shipping sectors. The semi-refrigerated sector is at a low point in the cycle and we are establishing the Teekay Multigas Pool in readiness for the potential market upturn. The Teekay Multigas Pool is open for business.”
Stay tuned for more on this opportunity.
Read the original Teekay Multigas Pool press release.