LNG

Stabilis Energy Inc., the provider and distributor of liquefied natural gas as a fuel for customers in North America, has extended its reach into Mexico with the completion of an acquisition and a key joint venture program.

LNG industry coalition, SEA\LNG, has expanded its US membership network by welcoming Houston-based Stabilis Energy to its ranks.
 
Peter Keller, Chairman, SEA\LNG, commented: “Welcoming Stabilis Energy as a new member demonstrates SEA\LNG’s continued commitment within the ever expanding North American LNG market. LNG is growing in importance in both the energy and marine bunkering markets. Stabilis operates at the forefront of this expansion.”
 
Stabilis Energy provides small-scale LNG production, distribution and fuelling services to multiple end markets in North America. It owns and operates a liquefaction and storage facility in George West, Texas, as well as a fleet of over 150 cryogenic rolling stock equipment pieces throughout North America. Stabilis supplies LNG for use in the industrial, mining, energy, utility, pipeline, and transportation end markets, as well as marine bunkering services. 

Jim Reddinger, Stabilis Energy President and CEO, said: “LNG is an increasingly important part of the marine bunkering infrastructure throughout North America and across the globe. We specialise in producing LNG and delivering it to its last port of call, as it were, where it is ready for transfer to ocean-going vessels. As members of SEA\LNG we look forward to supporting this integral part of the growing LNG bunkering network throughout North America and beyond.”
 
To help fund growth plans and operating presence, as well as investments in LNG production and distribution, Stabilis recently completed a number of initiatives, including a public listing on the Nasdaq stock exchange (ticker symbol: SLNG), investment from Chart Industries and two strategic transactions in Mexico.
 
Keller added: “Communication and collaboration across the LNG value chain is essential to breaking down barriers to the adoption of LNG as an important and economically viable marine fuel. It is encouraging to see Stabilis Energy engaging with its partners to strengthen the small-scale LNG network. We look forward to working with them to expand LNG bunkering infrastructure in the Americas.”
 

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.

Stabilis Energy, the US liquefied natural gas producer and supplier, said it had completed the acquisition of a majority interest in Prometheus Energy, a small-scale US LNG distributor.