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Under the terms of the agreement, Stabilis expects to deliver LNG from its planned flagship liquefaction facility in Galveston, Texas, utilizing the company’s proposed Jones Act-compliant LNG bunkering vessel.
Stabilis said in a statement that deliveries under the agreement are expected to commence in the fourth quarter of 2027, subject to the successful financing and construction of the Galveston LNG facility and other conditions precedent.
The company did not provide further information regarding the agreement.
In 2023, Stabilis Solutions secured a multi-year contract from Carnival to provide LNG fuel for the latter’s vessel Carnival Jubilee.
Second offtake deal
Stabilis noted that the agreement with Carnival represents the second anchor offtake agreement announced to date in connection with the Galveston LNG project, bringing the total contracted offtake to approximately 55 percent of the facility’s planned capacity.
The company announced in October that it had entered into a 10-year agreement with a “leading investment-grade global marine operator” to supply LNG for their marine bunkering operations at the port of Galveston.
This long-term agreement marked the company’s first marine bunkering contract for liquefaction supply from its planned expansion along the Texas Gulf Coast.
Stabilis currently owns a liquefier that can produce more than 100,000 LNG gallons per day in George West, Texas, and a liquefier that can produce up to 30,000 LNG gallons per day in Port Allen, Louisiana.
The company said it continues to work with its advisors and financing partners as it advances toward a final investment decision during the first quarter of 2026.
To date, Stabilis has completed FEL-3 engineering design and secured long-lead equipment for the project, consistent with its planned construction schedule.
The company also just announced that it has entered into a time charter deal with Canada’s Seaspan Energy for the latter’s 7,500-cbm LNG bunkering vessel, Seaspan Garibaldi.
In addition, Stabilis has an option to buy the LNG bunkering vessel.
