Stabilis Solutions Announces Multi-Year LNG Bunkering Contract with Carnival Corporation

HOUSTON, TX / ACCESSWIRE / October 31, 2023 / Stabilis Solutions, Inc., ("Stabilis" or the "Company") (NASDAQ:SLNG), a leading provider of sustainable energy production, storage, and delivery solutions, announced today that it has been awarded a multi-year marine bunkering contract with Carnival Corporation & plc ("Carnival") (NYSE/LSE:CCL; NYSE:CUK) to provide LNG fuel for the Carnival Jubilee, the newest addition to the Carnival Cruise Line fleet, which is setting sail from Galveston, Texas beginning in December 2023.

Under the terms of the contract, Stabilis will supply firm LNG deliveries on a ratable basis from its owned liquefaction facility in Texas over the two-year contract, with an option to extend the contract for up to an additional two years at the request of Carnival Corporation.

"Stabilis continues to develop a leading LNG marine bunkering platform at strategic ports across North America," stated Westy Ballard, President and CEO of Stabilis. "We are excited to partner with Carnival Corporation, a pioneering global cruise line company committed to the decarbonization of their fleet through the adoption of LNG and alternative fuels. We also look forward to working closely with the Port of Galveston as it becomes a leading LNG bunkering hub."

"As part of our ambition to achieve net-zero carbon ship operations by 2050, we're investing in LNG-powered vessels because LNG delivers immediate greenhouse gas emission reductions and is the best available market-ready fuel to help cut ship greenhouse gas emissions now," said Tom Strang, Senior Vice President of Maritime Affairs, Carnival Corporation & plc. "We were the first to introduce LNG-powered cruise ships into the North American market and we are delighted to partner with Stabilis to further our decarbonization strategy by helping to power the next-level fun awaiting guests aboard the highly anticipated Carnival Jubilee."

"Over the next three years, we anticipate the global fleet of LNG-fueled vessels will increase materially, as operators seek to reduce carbon emissions through the adoption of lower-cost sustainable fuel sources," continued Ballard. "Our proven supply network and logistics assets well position Stabilis to serve this significant, growing addressable market, which remains in the early innings of a multi-year expansionary phase. Our relationship with Carnival is an important next step in further solidifying our position as a premier marine LNG fuel provider serving ports across North America."

ABOUT STABILIS SOLUTIONS

Stabilis Solutions (NASDAQ:SLNG) is a leading provider of sustainable energy production, storage, and delivery solutions to multiple end markets. To learn more, visit www.stabilis-solutions.com.

ABOUT CARNIVAL CRUISE LINE

Carnival Cruise Line, part of Carnival Corporation & plc (NYSE/LSE:CCL; NYSE:CUK), is the first cruise line to sail over 100 million guests and is proud to be known as America's Cruise Line, for carrying more Americans and serving more U.S. homeports than any other. For over 50 years, Carnival has continually revolutionized the cruise industry and popularized the cruise vacation as an affordable and fun travel option. Carnival operates from 14 U.S. and two Australian homeports and employs more than 40,000 team members representing 120 nationalities. Carnival currently operates 25 ships and is in an exciting period of growth with the addition of two ships over the next year.

CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING STATEMENTS

This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 and within the meaning of Section 27a of the Securities Act of 1933, as amended, and Section 21e of the Securities Exchange Act of 1934, as amended. Any actual results may differ from expectations, estimates and projections presented or implied and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "can," "believes," "feels," "anticipate," "expects," "could," "will," "plan," "may," "should," "predicts," "potential," "outlook" and similar expressions are intended to identify such forward-looking statements.

Such forward-looking statements relate to future events or future performance, but reflect our current beliefs, based on information currently available. Most of these factors are outside our control and are difficult to predict. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements. Factors that may cause such differences include, among other things: the future performance of Stabilis, future demand for and price of LNG, availability and price of natural gas, unexpected costs, and general economic conditions.

The foregoing list of factors is not exclusive. Additional information concerning these and other risk factors is contained in the Risk Factors in Item 1A of our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 9, 2023 which is available on the SEC's website at www.sec.gov or on the Investors section of our website at www.stabilis-solutions.com. All subsequent written and oral forward-looking statements concerning Stabilis, or other matters attributable to Stabilis, or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.

Stabilis does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

CORPORATE CONTACT

Andrew Puhala
Chief Financial Officer
ir@stabilis-solutions.com

SOURCE: Stabilis Solutions