Houston clean energy provider Stabilis Solutions (NASDAQ: SLNG) on Wednesday announced that it has received authorization from the U.S. Department of Energy 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.”
Market Reaction
- Stabilis Solutions, Inc. (SLNG)
- Nasdaq $10.70+5.54 (+107.36%) as of 10:27AM EDT. Market open.
About Stabilis
Stabilis Solutions, Inc. is a leading provider of clean energy production, storage, and delivery solutions to multiple end markets across North America. Stabilis was founded in 2013 with the vision of providing low cost, abundant, and environmentally friendly natural gas solutions throughout North America. Today we are a leading producer, marketer and distributor of liquefied natural gas (LNG) and hydrogen, serving a wide range of customers with portable, temporary and permanent solutions.
Stabilis is headquartered in Houston, TX with a state-of-the-art LNG production facility in George West, TX. Together with our network of production and distribution partners, we’ve delivered more than 25,000 deliveries and over 250 million gallons of LNG across the U.S., Mexico and Canada.
Source: Stablis
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