Prometheus Energy Group, Inc., has announced its signing of definitive agreements to acquire Stabilis Energy's LNG distribution and services business in North America outside of the Texas and Gulf Coast regions.
The transaction further expands Prometheus' ability to better serve customers in the gas utility, pipeline, energy, process and remote power generation markets. Included in the transaction, Stabilis Energy will acquire Prometheus' 20 000 gpd LNG production facility in Lisbon, Utah. The terms of the transaction were not disclosed.
"We believe this further strengthens our platform providing LNG supply, distribution and technical services to customers across all of North America and specifically within the Rocky Mountain Region," said Jim Aivalis, CEO and President of Prometheus. "This transaction allows Prometheus to focus on its core competencies of providing total natural gas fuel and delivery solutions to customers utilising LNG or CNG."