SEA\LNG grows US network with Stabilis EnergyAug 27, 2019 10:28 AM
(LONDON) — SEA\LNG, the multi-sector industry coalition accelerating the widespread adoption of liquefied natural gas (LNG) as a marine fuel, has expanded its membership network in the United States as it welcomes Houston-based Stabilis Energy.
“Welcoming Stabilis Energy as a new member demonstrates SEA\LNG’s continued commitment within the ever expanding North American LNG market," said Peter Keller, chairman, SEA\LNG. "LNG is growing in importance in both the energy and marine bunkering markets. Stabilis operates at the forefront of this expansion.”
Stabilis Energy provides small-scale LNG production, distribution and fueling services to multiple end markets in North America. It owns and operates a liquefaction and storage facility in George West, Texas, as well as a fleet of over 150 pieces of cryogenic rolling stock equipment throughout North America. Stabilis supplies LNG for use in the industrial, mining, energy, utility, pipeline, and transportation end markets, as well as marine bunkering services.
“LNG is an increasingly important part of the marine bunkering infrastructure throughout North America and across the globe," said Jim Reddinger, president and chief executive officer at Stabilis Energy. "We specialize in producing LNG and delivering it to its last port of call, as it were, where it is ready for transfer to oceangoing vessels. As members of SEA\LNG we look forward to supporting this integral part of the growing LNG bunkering network throughout North America and beyond.”
To help fund growth plans and operating presence, as well as investments in LNG production and distribution, Stabilis has recently completed a number of initiatives, including a public listing on the Nasdaq stock exchange (ticker symbol: SLNG), investment from Chart Industries, a leading global supplier of LNG production and distribution equipment, and two strategic transactions in Mexico.
SEA\LNG brings together key players in the marine value chain, including shipping companies, classification societies, ports, major LNG suppliers, LNG bunkering companies, infrastructure providers and OEMs (original equipment manufacturers), advocating for cooperation and knowledge-sharing to build confidence in LNG as a commercially viable and environmentally sound marine fuel for 2020 and beyond.
Through collaboration with its members, independent consultants and academic experts, SEA\LNG has produced verified studies detailing the significant economic and environmental benefits of LNG as a marine fuel. The Life Cycle GHG Emissions Study demonstrates carbon emissions reductions of up to 21 percent with LNG compared to current oil-based marine fuels across the entire life cycle from well-to-wake (WtW).
Meanwhile, SEA\LNG’s two investment case studies clearly indicate that LNG delivers the best return on investment on a net present value (NPV) basis over a conservative 10-year horizon for both a containership on an Asia – U.S. West Coast trade, and PCTC vessels on the Atlantic and Pacific trades.