Stabilis sets record for LNG deliveries
Houston-based Stabilis Solutions said November 10 it delivered a record amount of LNG to its customers during the three-month period ending September 30.
Stabilis reported revenue from its LNG division of $17.8mn in the third quarter, a $3.4mn increase from Q2 and $10.1mn higher than the Q3 2020 level. Third quarter deliveries of around 56,700 m3 of LNG during the period was a record.
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Stabilis in September signed a memorandum of understanding with the Port Isabel Logistical Offshore Terminal (PILOT) to use LNG as a marine fuel at the port. That was the third US Gulf Coast bunkering agreement for Stabilis.
The company signed a similar agreement in August to offer LNG fuelling services at the Texas port of Galveston with port operator Galveston Wharves. Stabilis already provides LNG bunkering services at the port of Corpus Christi, also in Texas.
Stabilis reported total revenue for the third quarter of $19.7mn, a 23% increase from third quarter levels and also a record. Its previous record was set in the first quarter when it turned in $17.7mn in the first quarter.