Exxon Ensues $10B Gas Facility - Analyst Blog
10 5월 2013 - 11:10PM
Zacks
Energy giant, ExxonMobil
Corporation (XOM), has inked an agreement with Qatar
Petroleum International to proceed with the construction of a
natural gas export terminal in Texas, valued at $10 billion, as per
Bloomberg reports.
Golden Pass Products LLC, a subsidiary formed by the two companies,
had mentioned through an email that the project will entail setting
up of liquefaction equipment at an existing import facility in
Sabine Pass, Texas.
Last year, the subsidiary had received regulatory approval to
export the fuel to nations having free-trade agreements with the
U.S., while the approval for shipment of fuel to other countries is
still pending.
Per the statement, ExxonMobil and state-owned Qatar Petroleum
intend to export around 15.6 million metric tons of gas per year
from the Golden Pass facility. A boom in the U.S. gas yield has
encouraged many to come up with numerous proposals to transport the
fuel. To facilitate shipment, the fuel is cooled to liquid form at
-260 degrees Fahrenheit (-162 Celsius), for volume management.
This agreement opens up a competitive commercial proposal for
Golden Pass Products that assures of building on the distinctive
combined strengths of Qatar Petroleum and ExxonMobil through the
global downstream liquefied natural gas (LNG) value chain.
For the last few years, ExxonMobil has been working toward
expanding its worldwide gas portfolio. The investments made by the
company include the 2010 purchase of XTO Energy in the U.S. and
funding of A$52 billion ($52 billion) for the Gorgon LNG complex in
Australia. Natural gas formed 50% of the total yield during the
first quarter of 2013.
ExxonMobil holds a Zacks Rank #3, which is equivalent to a
short-term Hold rating. However, there are other stocks in the oil
and gas industry like Dawson Geophysical Company
(DWSN), SM Energy Company (SM) and
Exterran Holdings, Inc. (EXH) that appear more
attractive in the short term. All three stocks carry a Zacks Rank
#1 (Strong Buy).
DAWSON GEOPHYS (DWSN): Free Stock Analysis Report
EXTERRAN HLDGS (EXH): Free Stock Analysis Report
SM ENERGY CO (SM): Free Stock Analysis Report
EXXON MOBIL CRP (XOM): Free Stock Analysis Report
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