US small-scale LNG supplier acquires production plant
Small-scale LNG supplier Stabilis Solutions reported on June 1 it had closed the purchase of an LNG production facility in Port Allen in Louisiana from fellow Texas-based company HR Nu Blu Energy for an undisclosed sum.
The facility, built in 2018, is capable of producing 30,000 gallons of LNG/day, lifting Stabilis' overall output by 30%. Stabilis expects to sell all of the facility's production immediately under contracts with existing customers, projecting it will generate $2.5-3mn of EBITDA each year from the plant.
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"The facility’s location is ideal to meet the growing clean energy needs of our customers in the Gulf Coast region," Stabilis CEO Jim Reddinger commented. "In addition, it currently supports North America’s largest LNG-powered offshore service vessel fleet located in Port Fourchon, Louisiana."
Through the deal, Stablise said it would be able to expand its LNG marine bunkering services to customers across the Gulf coast, including at the ports of Baton Rouge and New Orleans. According to Nu Blu's website, the plant can be expanded to produce 90,000 gallons of LNG/d.