HAMILTON, BERMUDA--(Marketwire - Dec. 5, 2012) - Teekay LNG Partners L.P. (Teekay LNG or the Partnership) (NYSE:TGP) and EXMAR NV (EXMAR) (EXM:BB) today announced an agreement in principle to create a new 50/50 joint venture which will operate in the LPG Carrier segment with a primary focus on Midsize Gas Carriers. EXMAR and Teekay LNG seek to expand the joint venture by taking advantage of the current and future demand for liquefied petroleum gas (LPG) and ammonia (NH3).