Teekay LNG Partners L.P. Announces $40 Million Equity Private Placement

HAMILTON, BERMUDA--(Marketwired - July 30, 2013) -
Teekay GP LLC., the general partner of Teekay LNG
Partners L.P. (Teekay LNG or the Partnership)
(NYSE:TGP), announced today that it has issued
approximately 0.93 million common units in a private
placement to an institutional investor for proceeds
of approximately $40 million (excluding its general
partner's proportionate capital contribution). The
Partnership intends to use the proceeds from the sale
of common units to partially fund its previously
announced order of two fuel-efficient liquefied
natural gas (LNG) carrier newbuildings ordered in
July 2013, scheduled for delivery in 2016, and for
general partnership purposes.

This news release does not constitute an offer to
sell or a solicitation of an offer to buy the
securities described herein, nor shall there be any
sale of these securities in any state or jurisdiction
in which such an offer, solicitation or sale would be
unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. The
securities offered have not been registered under the
U.S. Securities Act of 1933, as amended, or any other
securities laws and may not be offered or sold in the
United States absent registration or an applicable
exemption from registration requirements.

About Teekay LNG Partners L.P.

Teekay LNG Partners L.P. is the world's third largest
independent owner and operator of LNG vessels,
providing LNG, 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 31 LNG
carriers (including one LNG regasification unit and
four newbuildings), 29 LPG/Multigas carriers
(including five chartered-in LPG carriers and eight
newbuildings) and 11 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".

FORWARD-LOOKING STATEMENTS

This release contains forward-looking statements (as
defined in Section 21E of the Securities Exchange Act
of 1934, as amended) which reflect management's
current views with respect to certain future events
and performance, including statements regarding: the
timing of delivery of the two fuel-efficient LNG
carrier newbuildings. The following factors are among
those that could cause actual results to differ
materially from the forward-looking statements, which
involve risks and uncertainties, and that should be
considered in evaluating any such statement:
potential delay in newbuilding deliveries; and other
factors discussed in Teekay LNG's filings from time
to time with the SEC, including its Report on Form 20-
F for the fiscal year ended December 31, 2012. The
Partnership expressly disclaims any obligation or
undertaking to release publicly any updates or
revisions to any forward-looking statements contained
herein to reflect any change in the Partnership's
expectations with respect thereto or any change in
events, conditions or circumstances on which any such
statement is based.

Teekay LNG Partners L.P.
Kent Alekson
Investor Relations Enquiries
+ 1 (604) 609-6442
www.teekaylng.com