The result fell to $64.2m, a marginal reduction on the $64.6m for the same period of last year.
Distributable cash flow is a measure of the financial performance of master limited partnerships, but the result on a generally accepted accounting principals (GAAP) basis, which includes unrealised gains and losses, was very different with net income reaching $90.6m, more than three times the $29.6m for the same period of the previous year.
The pattern for the first nine months was rather similar with net income little changed at $131.1m for 2014 compared to $128.7m for the same period of last year. On a GAAP basis the comparative figures were $172.5m and $153.7m.
The steady performance was welcomed by Peter Evensen, chief executive of Teekay LNG’s general partner, Teekay GP, who said that was over $2.5bn of committed fleet growth in the pipeline.
"In contrast to the recent volatility in the equity markets, the partnership continues to generate stable cash flows from our growing portfolio of long-term, fee-based charter contracts which have an average remaining contract duration of approximately 13 years," added Evensen.
Fleet expansion plans include 15 LNG carrier newbuildings and nine LPG carrier newbuildings.
Teekay LNG sold the 160,000-dwt crude carriers Tenerife Spirit, Algeciras Spirit, and Huelva Spirit (built 2000/2001) between December 2013 and September 2014 as it continued to focus on the gas market.
New York listed Teekay LNG Partners now has interests ranging from 20% to 100% in 44 LNG carriers, 30 LPG carriers and eight conventional oil tankers.
