Stabilis Energy to acquire LNG production facility in Utah
BEAUMONT, Texas — Stabilis Energy announced that it has signed a definitive agreement to acquire Prometheus Energy’s 20,000 gal/day LNG production facility in Lisbon, Utah. The acquisition extends Stabilis’ LNG production capabilities into the Rocky Mountain Region and provides a platform for additional growth in small-scale LNG production facilities across North America. As part of the transaction, Prometheus will acquire Stabilis’ LNG distribution and logistics business outside of Texas and the Gulf Coast region. Terms of the transaction were not disclosed.
“We are pleased to announce the acquisition of the Lisbon LNG production facility,” said Casey Crenshaw, CEO of Stabilis Energy. “This transaction allows Stabilis to focus on its core strengths of building and operating small-scale and mid-scale LNG production facilities. This transaction is a continuation of our plan to build the leading LNG supply network in North America.”
Prometheus will add to its North American LNG supply and service platform with the acquisition of Stabilis’ LNG distribution business in the DJ Basin (Colorado) and other regions excluding Texas and the Gulf Coast region.
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