Stabilis Solutions Receives DOE Approval to Export LNG

Rhea-AI Summary

Stabilis Solutions, Inc. (NASDAQ:SLNG) has secured authorization from the U.S. Department of Energy to export up to 51.75 billion cubic feet of domestically produced liquefied natural gas (LNG) annually. This approval allows Stabilis to export LNG to both free trade and non-free trade countries for a term of 28 years. The company's CEO, Westy Ballard, emphasized the significance of this approval in addressing the current energy crisis and aiding the transition to cleaner energy sources.

Positive

• Authorization to export up to 51.75 billion cubic feet of LNG annually.
• Approval effective for 28 years, providing long-term export opportunities.

Negative

• None.

HOUSTON, TX / ACCESSWIRE / September 21, 2022 / Stabilis Solutions, Inc., ("Stabilis") (NASDAQ:SLNG), today 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.

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Investor Contact:
Andrew Puhala
Chief Financial Officer
832-456-6502
ir@stabilis-solutions.com

SOURCE: Stabilis Energy

View source version on accesswire.com:
https://www.accesswire.com/716767/Stabilis-Solutions-Receives-DOE-Approval-to-Export-LNG

FAQ

What did Stabilis Solutions announce on September 21, 2022?

Stabilis Solutions announced it received DOE authorization to export LNG to various countries.

How much LNG can Stabilis export annually?

Stabilis can export up to 51.75 billion cubic feet of LNG annually.

What is the duration of the DOE's export authorization for Stabilis?

The DOE's export authorization for Stabilis is for a term of 28 years.

Which markets can Stabilis export LNG to?

Stabilis can export LNG to all free trade and non-free trade countries, including Asia, Europe, and Latin America.