The Port of Corpus Christi Authority and Stabilis Solutions Inc. (“Stabilis”) (NASDAQ:SLNG), a leading provider of energy transition services, including hydrogen and liquefied natural gas (“LNG”) fueling solutions, have entered into a Memorandum of Understanding (MOU) to facilitate the use of LNG as a marine fuel at the Port of Corpus Christi.
LNG-powered vessels are becoming increasingly prominent amongst the world fleet, as LNG fuel benefits port customers in both efficiency and emissions reductions compared to diesel combustion engines. Some of the vessels calling on the Port of Corpus Christi today are already LNG-compatible.
With this partnership and the increasing availability of LNG as a marine fuel at the Port of Corpus Christi, the Port and Stabilis hope to attract more LNG-capable vessels and to encourage the conversions to LNG power.
The Port of Corpus Christi and Stabilis have committed to providing extensive customer education and technical support as well as attracting capital, including grant funding opportunities designed to incentivize market development and viable customer solutions.
“The Port of Corpus Christi Authority sees LNG fueling of marine vessels as an important step toward our broader commitment to decarbonization and improved air quality,” said Sean Strawbridge, Chief Executive Officer of the Port of Corpus Christi. “We have a strong commitment to protecting our air attainment status, so by offering LNG as an alternative to diesel as a marine fuel within our gateway, we are evolving our sustainability protocols by reducing mobile source emissions.”
According to the MOU, the Port of Corpus Christi will provide suitable access to dock space for shore-to-ship fueling operations while Stabilis will deploy its existing fleet of mobile cryogenic assets (including LNG transportation and distribution equipment) from its LNG production plant in South Texas to support LNG fueling operations.
“We are excited to partner with the Port of Corpus Christi on this opportunity,” said Jim Reddinger, President and CEO of Stabilis Solutions. “The use of LNG as a marine fuel is critical for marine operators to reduce their emissions profile, and Stabilis is uniquely positioned to provide this service to customers along the Gulf Coast and beyond. Meeting the requirements of the energy transition requires innovative solutions, and we are excited to be part of this journey with the Port of Corpus Christi and its partners.”
“We applaud the Port of Corpus Christi and Stabilis for joining together on such an important endeavor to further the maritime sector’s efforts to decarbonize and reduce emissions,” said Peter Keller, Chairman of SEA-LNG, a global industry coalition established to demonstrate LNG’s benefits as a marine fuel. “Through innovative thinking and partnerships such as this, SEA-LNG members like the Port of Corpus Christi and Stabilis are helping the industry move into a cleaner and more prosperous future.”
About Port Corpus Christi
As a leader in U.S. Crude Oil export ports and a major economic engine of Texas and the nation, Port Corpus Christi is the largest port in the United States in total revenue tonnage. Strategically located on the western Gulf of Mexico with a 36-mile, soon to be 54-foot (MLLW) deep channel, Port Corpus Christi is a major gateway to international and domestic maritime commerce. The Port has excellent railroad and highway network connectivity via three North American Class-1 railroads and two major interstate highways. With an outstanding staff overseen by its seven-member commission, Port Corpus Christi is “Moving America’s Energy.”
About Stabilis
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 sources 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.
