Naviera F Tapias Sa News

Teekay Shipping Corporation has entered into a definitive agreement to acquire Naviera F. Tapias S.A. Teekay has also entered into an agreement with the shareholders of Tapias to establish a 50/50 joint venture that will pursue new business in the oil and gas shipping sectors, focusing specifically on the Spanish market. The Tapias acquisition will establish Teekay's presence in LNG shipping, one of the fastest growing sectors of sea-borne energy transportation. It will position the Company as a key supplier of LNG shipping to Spain, the world's third largest importer of LNG, and provide a strategic growth platform for Teekay. As a major provider of crude oil transportation to Spain, the acquisition of Tapias will also extend Teekay's leading position in the crude oil tanker sector.

Teekay Shipping Corporation has entered into a definitive agreement to acquire Naviera F. Tapias S.A., a leading independent owner and operator of LNG carriers and crude oil tankers in Spain. Teekay has also entered into an agreement with the shareholders of Tapias to establish a 50/50 joint venture that will pursue new business in the oil and gas shipping sectors, focusing specifically on the Spanish market. The Tapias acquisition will establish Teekay's presence in LNG shipping, one of the fastest growing sectors of sea-borne energy transportation. It will position the company as a key supplier of LNG shipping to Spain, the world's third largest importer of LNG, and provide a strategic growth platform for Teekay.