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Stabilis extends its LNG capabilities

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Hydrocarbon Engineering,

Stabilis Energy has signed a definitive agreement to acquire Prometheus Energy’s 20 000 gpd LNG production facility in Lisbon, Utah, US. The acquisition extends Stabilis’ LNG production capabilities into the Rocky Mountain region and provides a platform for additional growth in small-scale LNG production facilities across North America. As part of the transaction, Prometheus will acquire Stabilis’ LNG distribution and logistics business outside of Texas and the Gulf Coast region. Terms of the transaction were not disclosed.

Prometheus will add to its American LNG supply and service platform with the acquisition of Stabilis’ LNG distribution business in the DJ Basin (Colorado) and other regions excluding Texas and the Gulf Coast region.

Casey Crenshaw, CEO of Stabilis Energy., commented: “This transaction allows Stabilis to focus on its core strengths of building and operating small-scale and mid-scale LNG production facilities. This transaction is a continuation of our plan to build the leading LNG supply network in North America.”

Jim Reddinger, President and CFO of Stabilis Energy, continued: “Stabilis remains fully committed to self-performing the transportation and logistics services required to move LNG from our production facilities to our customers. Providing certainty of LNG supply to our customers is our top priority, and we believe that self-performing transportation and logistics services in Texas and the Gulf Coast region is critical to fulfilling this commitment.”

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Downstream news Downstream contract news