Teekay Corp. has announced the launch of its second LNG ME-GI newbuilding, Oak Spirit, from the Daewoo Shipbuilding and Marine Engineering (DSME) shipyard in South Korea.
The company held the keel laying ceremony for the vessel in June 2015.
Upon completion, which is expected in mid-2016, the vessel will be on a five-year time chareter contract with Cheniere Energy.
The LNG newbuilding is the second of nine vessels with MEGI engines to be built at DSME’s shipyard. Two additional LNG MEGI newbuildings will be built at the Hyundai Heavy Industries shipyard.
Teekay LNG Partners L.P. and its joint venture partner Marubeni Corporation have agreed to acquire ownership interests in eight LNG carriers from Denmark-based, A.P. Moller-Maersk A/S, for approximately US$ 1.4 billion.