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|Subject: TGP Q1 2013 results||Date: 5/10/2013 11:17 PM|
|Author: Hohum777||Number: 2860 of 3262|
TGP announced Q1 2013 results today (5/10).
- Increased Distributable Cash Flow by 6% from last year.
- Declared distribution of 67.5c/unit (looks like it has already gone ex-div)
- JV with Exmar involving 25 mid and large gas carriers
I read the earnings call transcript. The company is planning on bidding for FSRU work, but not
the most immediate projects. TGP has ordered two newbuild LNG tankers and is concentrating on
tender bids for these two vessels. An analyst inquired whether TGP would consider switching a
carrier into an FSRU. The CEO indicated that they probably would no go down that route, even
if TGP could implement mods on one of the LNG newbuilds.
Earlier in the week, TGP filed for another secondary offering, looking to raise $100M. Not
sure, is this to cover their equity portion of the Exmar deal, or something else?
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