Petroleum gas is a clean-burning fossil fuel that can be derived from crude oil as well as natural gas; the derivation can be propane, butane, propylene and ethylene. Through a refrigeration process, Liquefied Petroleum Gas (LPG) is easily converted from its natural gaseous state. Transportation of petroleum gas in its liquid rather than gaseous state is employed due to their respective volumes; LPG occupies 274 times less space as a liquid.
In 2012, Teekay LNG entered in a 50/50 joint venture with EXMAR, beginning with 16 LPG carriers. Since then, due to a rapid development of the worldwide gas energy market, Teekay and EXMAR have added additional LPG tankers to their existing fleet.
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