LNG

Dec 18 (LNGJ) - Stabilis Energy, one of the leading small-scale US LNG distribution companies, is merging with Nasdaq-listed American Electric Technologies. The combined business will include the Stabilis LNG production and distribution businesses as well as AETI’s existing international units. When the transaction closes the owners of Stabilis will hold 89 percent of the combined company and AETI shareholders will own 11 percent. James Reddinger, current President and Chief Executive of Stabilis, will serve as President and CEO of the merged company, whose main operating asset is a 120,000 LNG-gallon per day production plant in George West, Texas, and a transportation fleet. “We believe the combination of Stabilis and AETI will create a leading platform for growth and consolidation in the North American small-scale LNG industry,” said Reddinger.

Shareholders in Clean Energy Fuels Corp., the California-based supplier of liquefied natural gas and compressed natural gas fuel for the trucking industry, have approved the sale of a 25 percent stake to French energy major and global LNG market participant Total.

Tellurian Inc., the developer of the Driftwood LNG project on the Gulf Coast of Louisiana, has launched a public offering of its shares to raise at least $100 million mainly for initial engineering costs as it advances with its project for a liquefaction plant and affiliated pipeline.