HOUSTON, TX / ACCESSWIRE / September 21, 2021 / The Cameron Parish Port, Harbor & Terminal District ('CPP' or the 'Port') in Louisiana and Stabilis Solutions Inc. ('Stabilis') (NASDAQ:SLNG), a leading provider of energy transition services including liquefied natural gas ('LNG') and hydrogen fueling solutions, have entered into a Memorandum of Understanding ('MOU') to facilitate the use of LNG as a marine fuel at the Port. This will be the fourth LNG marine bunkering location that Stabilis supports on the Gulf Coast.
Under the terms of the MOU, CPP and Stabilis will work together to provide turnkey LNG fueling solutions to marine vessels calling on the Port, including identifying suitable dock space for shore-to-ship fueling operations, obtaining the necessary permits and approvals, identifying and educating potential customers, and executing LNG fueling events. Stabilis will deploy its existing fleet of mobile cryogenic assets, including LNG transportation and distribution equipment, and provide LNG from its liquefaction facilities in Port Allen, LA and George West, TX to support LNG fueling operations. LNG bunkering services are expected to be available at CPP by the end of 2021.
'Stabilis is excited to partner with the Cameron Parish Port on this LNG marine bunkering opportunity,' said Westy Ballard President and CEO of Stabilis. 'The use of LNG as a marine fuel is growing rapidly around the world as marine customers seek to meet their energy transition objectives. Adding Cameron Parish Port as our fourth Gulf Coast bunkering location gives our customers and partners greater flexibility as they plan their operations.'
'With the number of LNG-fueled vessels in the global fleet growing rapidly, having LNG fueling services in the Cameron Parish Port is an important step in our commercial growth,' added Clair Hebert Marceaux, Port Director of Cameron Parish Port. 'It is also important as the Port seeks to meet its sustainability goals. We look forward to working with Stabilis on this project.'
About Cameron Parish Port, Harbor & Terminal District
The Cameron Parish Port, Harbor & Terminal District is situated as the port of entry to the Calcasieu Ship Channel in Southwest Louisiana. It is located on the Gulf of Mexico with the Calcasieu Ship Channel, the Gulf Intracoastal Waterway (GIWW), the Mermentau River and the Cameron Loop all located within its territorial limits. The territorial limits encompass Wards 1, 2, 3, 4, 5 and 6 of Cameron Parish, Louisiana. To learn more, visit www.cameronparishport.com.
Stabilis Solutions, Inc. is a vertically integrated energy transition company that provides clean energy solutions to our customers. Our solutions include small-scale liquefied natural gas ('LNG') production, distribution and fueling services to multiple end markets in North America. Stabilis also provides hydrogen fueling services to its customers. Stabilis has safely delivered over 250 million gallons of LNG through more than 25,000 truck deliveries during its 16-year operating history in the LNG industry, which we believe makes us one of the largest and most experienced small-scale LNG providers in North America. Stabilis' customers use LNG and hydrogen as a fuel source in a variety of applications in the industrial, energy, mining, utilities and pipelines, commercial, and high horsepower transportation markets. Stabilis' customers use LNG and hydrogen as alternatives to traditional fuel sources, such as distillate fuel oil and propane, to lower fuel costs and reduce harmful environmental emissions. Stabilis' customers also use LNG as a 'virtual pipeline' solution when natural gas pipelines are not available, or volumes are curtailed. To learn more, visit www.stabilis-solutions.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release includes 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as 'can', 'believes,' 'expects,' 'could,' 'will,' 'plan,' 'may,' 'should,' 'predicts,' 'potential' and similar expressions are intended to identify such forward-looking statements.
Such forward-looking statements relate to future events or future performance, but reflect the parties' current beliefs, based on information currently available. Most of these factors are outside the parties' control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.
The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in our quarterly reports on Form 10‐Q and annual reports on Form 10‐K, which are available on the SEC's website at www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.
Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
Cameron Parish Port, Harbor & Terminal District:
Clair Hebert Marceaux
Stabilis Solutions - Investor Relations:
Chief Financial Officer
Stabilis Solutions - Marine LNG Fuel Sales:
Gulf Coast LNG Sales
Stabilis Solutions - Marine LNG Fuel Solutions:
Marine LNG Business Development
SOURCE: Stabilis Solutions
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