ExxonMobil’s Golden Pass LNG project receives a three-year extension after its lead contractor, Zachry Holdings, filed for bankruptcy. This news comes as ExxonMobil reports strong exploration success and anticipates reduced third-quarter upstream earnings. The article analyzes ExxonMobil’s stock prospects for 2024, highlighting the use of technical indicators like moving averages and trend lines to forecast future price movements.
BofA Securities has upgraded Kinder Morgan (KMI), an energy infrastructure company, to a Buy rating citing a stabilized base business and potential growth in contracted natural gas pipelines. The analyst expects increased demand driven by Gulf Coast LNG projects and the electrification of utilities through AI, positioning Kinder Morgan for long-term growth.
TotalEnergies shares are trading higher premarket after announcing a mid-term LNG supply contract with Santos and a Final Investment Decision for the first oil development in Suriname’s Block 58. The company’s strategic moves in the energy sector are driving investor interest.
TotalEnergies has signed a seven-year agreement to supply 200,000 tons of liquefied natural gas (LNG) per year to HD Hyundai Chemical, starting in 2027. This deal strengthens TotalEnergies’ position in the Asian market and aligns with its strategy to secure long-term LNG sales.
Chevron Corporation has reportedly chosen not to invest in Woodside Energy Group’s upcoming acquisition of Driftwood LNG in Louisiana, sticking to its ‘buy-rather-than-build’ strategy for US gas. Despite recent interest rate reductions, Chevron’s focus remains on upstream and downstream investments, leaving midstream infrastructure to others. This decision comes after Chevron announced its intention to increase international sales of Permian Basin production, relying on LNG offtake contracts. While Chevron is exploring ways to reduce methane emissions through engine conversion on its LNG carriers, its stance on LNG plant construction remains uncertain.
Chevron Shipping, in partnership with Wärtsilä, will convert engines on six LNG carriers to spark gas operation, aiming to reduce methane emissions and support the company’s carbon reduction goals. Chevron’s CEO Michael Wirth criticized Biden’s LNG export pause, arguing it will lead to higher energy costs and hinder the shift from coal to gas.
Kimmeridge Texas Gas (KTG) and Commonwealth LNG (Commonwealth) have joined forces with Glencore, a global natural resource leader, to form a strategic partnership in natural gas and LNG. This agreement will see Glencore purchase a significant amount of LNG from Commonwealth and natural gas from KTG, accelerating KTG’s vision of becoming a fully integrated energy provider.
TotalEnergies has extended its long-term liquefied natural gas (LNG) supply agreement with CNOOC, securing continued sales in China until 2034. The company is also expanding its presence in Turkey and India with new LNG and renewable energy deals, demonstrating its commitment to global energy markets.
MiQ, a global leader in emissions certification, has partnered with EQT Corporation and Uniper to pilot a new model for verifying and differentiating US LNG cargos based on their emissions. This initiative uses MiQ’s Supply Chain Protocol to provide comprehensive emissions data, enhancing transparency and enabling buyers to choose lower-emission options. The pilot transaction signifies a critical step toward addressing growing demand for transparent supply chain emissions information in the global LNG market.
India is aiming to significantly reduce pollution from its trucking industry by promoting the use of liquefied natural gas (LNG). The Oil Ministry plans to encourage the conversion of existing trucks to LNG and mandate LNG use for a third of new trucks, citing its lower emissions compared to diesel. This move aligns with India’s efforts to reduce air pollution and meet its target of increasing natural gas in its energy mix.
