In the last issue, we analyzed the rapidly improving prospects for US exports of liquefied natural gas (LNG) now that the government has green-lighted the second of many such proposed projects. These exports won’t happen without a big fleet of specialized LNG fuel tankers, and we identified Teekay LNG Partners (NYSE: TGP) as one likely beneficiary.

Late last week, that forecast began to come true as Cheniere Energy (NYSE: LNG) chartered two of the new-build tankers ordered by Teekay in December for a five-year period starting in 2016, the year these ships will be delivered and also the year Cheniere expects to start exporting LNG from the Sabine Pass liquefication plant it’s building on the Gulf Coast, just inside Louisiana’s Texas border. The South Korea-built tankers will be equipped with a new class of engine designed to lower operating costs and emission levels.

TGP units have responded positively to the announcement, but they haven’t been as strong of late as the shares of parent company and general partner Teekay (NYSE: TK), which is poised to profit disproportionately from incentive distribution rights paid by the affiliated master limited partnerships. Investors with relatively high risk tolerance may do well by following the money into TK shares, which have more upside and more risk than TGP.