Stabilis Solutions Receives DOE Approval to Export LNG
September 22, 2022 at 09:01 am EDT
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HOUSTON, TX - Stabilis Solutions, Inc., ('Stabilis') (NASDAQ:SLNG), announced that it has received authorization from the U.S. Department of Energy ('DOE') to export domestically produced liquefied natural gas ('LNG') to all free trade and non-free trade countries, including Asian, European, and Latin American importing nations. Under the DOE's order, Stabilis received authority to export on its own behalf, or as agent for others, up to the equivalent of 51.75 billion cubic feet per year of domestically produced LNG. The authorization is for a term of 28 years.
'The DOE's approval provides us with the ability to assist in the world's current energy crisis as well as longer term capabilities to facilitate the world's transition to cleaner energy sources,' said Westy Ballard, President & Chief Executive Officer of Stabilis, 'and we look forward to working with our customers to commercialize these exciting export opportunities.'
About Stabilis
Stabilis Solutions, Inc. is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets across North America. To learn more, visit www.stabilis-solutions.com.
Stabilis Solutions, Inc. and its subsidiaries is an energy transition company. The Company provides turnkey clean energy production, storage, transportation and fueling solutions primarily using liquefied natural gas (LNG) to multiple end markets. The Company provides liquefied natural gas (LNG) solutions to customers in diverse end markets, including aerospace, agriculture, energy, industrial, marine bunkering, mining, pipeline, remote power, and utility markets. It builds and operates cryogenic natural gas processing facilities, called liquefiers, which convert natural gas into LNG through a purification and multiple stage cooling process. It owns and operates a liquefier that can produce up to 100,000 LNG gallons per day in George West, Texas and a liquefier that can produce up to 30,000 LNG gallons per day in Port Allen, Louisiana. It offers its customers a virtual natural gas pipeline by providing turnkey LNG transportation and logistics services in North America.