Stabilis Secures $200 Million LNG Contract
Stabilis was recently awarded a multi-year take-or-pay contract to supply LNG for a U.S. behind-the-meter power generation application for a world-leading provider of remote and temporary power generation and energy services. LNG deliveries are expected to commence during the first quarter of 2027 and continue through the first quarter of 2029. Stabilis anticipates total revenue under the initial two-year term of the contract of approximately $200 million. This contract represents the Company's first-ever contract in support of data center behind-the-meter power generation, consistent with its strategic focus on growing, high-value vertical markets. Stabilis continues to advance its proposed Galveston liquefaction facility and Jones Act-compliant LNG bunkering vessel toward an expected Final Investment Decision by the end of the first quarter 2026. Stabilis has secured customer commitments for approximately 56% of the project's planned 350,000 gallons-per-day capacity and is engaged in late-stage discussions with multiple potential customers to secure the remaining available offtake. The total capital required for the Project is estimated at $350 million to $400 million. Financing for the Project is progressing with counterparties conducting detailed due diligence and active negotiations on definitive documentation and key commercial terms. During the fourth quarter, two multi-year customer contracts concluded in accordance with their terms. The completed contracts were for temporary remote power in Louisiana, and the Company's truck-to-vessel LNG marine bunkering services in Galveston, Texas. The marine customer elected not to extend the agreement due to the unavailability of suitable Jones Act-compliant LNG bunker vessels during the contemplated extension period. The two contracts accounted for approximately 19% and 32% of 2025 revenues, respectively. The Company is engaged in late-stage discussions for new customer opportunities and expects to redeploy assets and personnel to support replacement work during 2026.
