Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



NASA Seeks to Profit from Natural Gas

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Hard on the heels of Lockheed Martin's (NYSE: LMT  ) announcement that it's getting into the energy infrastructure business, its partner, NASA -- yes, the National Aeronautics and Space Administration -- had an even more surprising revelation of its own Tuesday: NASA is looking to make some commercial profits of its own.

And not just by selling telescopes, space-themed toys, and NASA windbreakers at its stores, either. NASA's looking to make some serious scratch by retooling its Michoud Assembly Facility in New Orleans to manufacture liquefied natural gas (LNG) tanks for commercial use on Earth.

At a joint press conference in New Orleans, standing beside Louisiana Governor Bobby Jindal, and representatives from Lockheed, NASA representatives confirmed that they will be cooperating with Lockheed to use their "unique experience and equipment at Michoud to manufacture the LNG tanks." (Don't worry ... NASA's still making space gas-tanks, too).

Financial terms of the arrangement among Lockheed, NASA, and the Louisiana government have not yet been disclosed, but details should begin filtering out soon. According to Lockheed, the company has already begun receiving orders from customers who would like it to manufacture cryogenic tanks for fueling LNG-powered vessels. Once sales begin finalizing, and orders delivered, the details of how these three entities are divvying up the profits should become clearer.

Read/Post Comments (1) | Recommend This Article (3)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On March 15, 2013, at 7:27 AM, gasblogger wrote:

    Natural gas is the future of energy. It is replacing dirty old coal plants, and dangerous expensive nuclear plants. It will fuel cars, trucks, vans, buses, locomotives, aircraft, ships, tractors, engines of all kinds. It costs far less. It will help keep us out of more useless wars, where we shed our blood and money. It is used to make many products. It will bring jobs and boost our economy. It lowers CO2 emissions, and pollution. Over 5,500 select natural gas story links on my free blog. An annotated and illustrated bibliography of live links, updated daily. The worldwide picture of natural gas. Read in 75 nations. ronwagnersrants . blogspot . com

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2314276, ~/Articles/ArticleHandler.aspx, 9/27/2016 5:00:32 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:02 PM
LMT $245.79 Up +0.26 +0.11%
Lockheed Martin CAPS Rating: ****