Stabilis Solutions, Inc

SLNG NASDAQ
SLNG
Stabilis Solutions, Inc NASDAQ
 
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Important events

Sep 222022

Putin pressures the NG market

Energy production and storage firm Stabilis Solutions gets authorization to export its natural gas as Putin’s mobilization news puts pressure on supplies.

  • Stabilis shares soared 142% during intraday trading on Wednesday before closing up nearly 74% at its highest level since July 2021 on news that the US Department of Energy gave the company the greenlight to export its domestically made LNG supplies to “all free trade and non-free trade countries”.
  • The timing is significant and follows an update from Putin that said over 300k reservists would be mobilized to fight in Ukraine, heightening energy concerns. Other countries are taking steps of their own – Germany nationalized its biggest NG importer, Austria launched an energy-saving campaign, and France will switch off the Eiffel Tower early every day (among other things).
  • The news from Russia also rippled through the rest of the market, with big defense names like Lockheed Martin and Northrop Grumman jumping during intraday trading, and Chinese-related stocks losing ground (China has yet to speak out against Russia) with the Invesco Golden Dragon China ETF closing at its lowest since May.
  • KWON JUNHO/ Unsplash

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