Stabilis completes acquisition of majority interest in Prometheus

Stabilis Energy announced today it has completed the acquisition of a majority interest in Prometheus Energy. The acquisition combines two liquefied natural gas production and distribution companies to form a full-service LNG provider capable of delivering LNG to customers in any end market and location in North America. Terms of the transaction were not disclosed.

“We are pleased to announce the acquisition of Prometheus Energy,” said Casey Crenshaw, CEO of Stabilis Energy. “Prometheus was a pioneer in the LNG industry and it remains the premier small-scale LNG distribution and service company in the world. We believe this transaction will allow each company to grow aggressively in LNG production and distribution, respectively.”

Prometheus will operate as the independent LNG distribution subsidiary of Stabilis. Prometheus provides mobile and stationary LNG solutions to industrial, utility, pipeline, high-horsepower and other remote customers. Prometheus will continue to purchase LNG from multiple producers to optimize fuel cost for its customers.

Prometheus Energy is headquartered in Houston, Texas. Stabilis is headquartered in Beaumont, Texas.