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ConocoPhillips (COP) Signs LNG Deal at Netherlands Gate Terminal
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ConocoPhillips (COP - Free Report) has entered an agreement to secure additional capacity at the Gate terminal in the Netherlands.
The Gate terminal, situated within the Port of Rotterdam, is a joint venture between Gasunie and Vopak.
The terminal serves as a hub for liquefied natural gas (“LNG”) distribution, providing gas to the Netherlands and northwest Europe. It has a history of 12 years in operation.
The agreement broadens ConocoPhillips’ global presence in the LNG market. Through the commercial agreement, the company establishes a gateway to this significant market, enhancing COP's global LNG portfolio.
ConocoPhillips’ agreement with the Gate LNG terminal involves a capacity of 1.5 million tons per annum for natural gas or 2 billion cubic meters of gas. The 15-year throughput agreement is set to begin operations in September 2031.
As countries transition to cleaner energy sources, LNG can act as a bridge fuel. It provides a more environmentally friendly option than coal and can support the integration of intermittent renewable energy sources. Expanding capacity at the Gate LNG terminal aligns with ConocoPhillips’ commitment to providing Europe with low-carbon energy sourced from a highly competitive LNG supply.
COP also holds LNG resource positions in Qatar and Australia. Furthermore, the company has offtake and equity stakes in Sempra's Port Arthur LNG Phase 1 project on the U.S. Gulf Coast. Last year, ConocoPhillips inked a regasification agreement with the German LNG Terminal. These diverse investments highlight COP's global presence and commitment to the LNG industry.
Headquartered in Houston, TX, ConocoPhillips is primarily involved in the exploration and production of oil and natural gas. Through 2022, the upstream energy player produced 1,738 thousand barrels of oil equivalent (BOE) per day, comprising more than 51.7% oil.
COP currently carries a Zack Rank #3 (Hold). Investors interested in the energy sector might look at the following companies that presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
USA Compression Partners, LP (USAC - Free Report) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower.
USA Compression Partners has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for USAC’s 2023 and 2024 earnings per share is pegged at 30 cents and 58 cents, respectively.
Enerplus Corporation is an independent oil and gas production company with resources across Western Canada and the United States.
Enerplus has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for ERF’s 2023 and 2024 earnings per share is pegged at $2.26 and $2.66, respectively.
Global Partners (GLP - Free Report) is a leading operator of gasoline stations and convenience stores. Over the past 60 days, GLP has witnessed upward earnings estimate revisions for 2023 and 2024, respectively.
The Zacks Consensus Estimate for Global Partners’ 2023 and 2024 earnings per share is pegged at $3.46 and $3.69, respectively. GLP currently has a Zacks Style Score of A for Value and Growth.
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ConocoPhillips (COP) Signs LNG Deal at Netherlands Gate Terminal
ConocoPhillips (COP - Free Report) has entered an agreement to secure additional capacity at the Gate terminal in the Netherlands.
The Gate terminal, situated within the Port of Rotterdam, is a joint venture between Gasunie and Vopak.
The terminal serves as a hub for liquefied natural gas (“LNG”) distribution, providing gas to the Netherlands and northwest Europe. It has a history of 12 years in operation.
The agreement broadens ConocoPhillips’ global presence in the LNG market. Through the commercial agreement, the company establishes a gateway to this significant market, enhancing COP's global LNG portfolio.
ConocoPhillips’ agreement with the Gate LNG terminal involves a capacity of 1.5 million tons per annum for natural gas or 2 billion cubic meters of gas. The 15-year throughput agreement is set to begin operations in September 2031.
As countries transition to cleaner energy sources, LNG can act as a bridge fuel. It provides a more environmentally friendly option than coal and can support the integration of intermittent renewable energy sources. Expanding capacity at the Gate LNG terminal aligns with ConocoPhillips’ commitment to providing Europe with low-carbon energy sourced from a highly competitive LNG supply.
COP also holds LNG resource positions in Qatar and Australia. Furthermore, the company has offtake and equity stakes in Sempra's Port Arthur LNG Phase 1 project on the U.S. Gulf Coast. Last year, ConocoPhillips inked a regasification agreement with the German LNG Terminal. These diverse investments highlight COP's global presence and commitment to the LNG industry.
Headquartered in Houston, TX, ConocoPhillips is primarily involved in the exploration and production of oil and natural gas. Through 2022, the upstream energy player produced 1,738 thousand barrels of oil equivalent (BOE) per day, comprising more than 51.7% oil.
COP currently carries a Zack Rank #3 (Hold). Investors interested in the energy sector might look at the following companies that presently sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
USA Compression Partners, LP (USAC - Free Report) is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower.
USA Compression Partners has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for USAC’s 2023 and 2024 earnings per share is pegged at 30 cents and 58 cents, respectively.
Enerplus Corporation is an independent oil and gas production company with resources across Western Canada and the United States.
Enerplus has witnessed upward earnings estimate revisions for 2023 and 2024 in the past 30 days. The consensus estimate for ERF’s 2023 and 2024 earnings per share is pegged at $2.26 and $2.66, respectively.
Global Partners (GLP - Free Report) is a leading operator of gasoline stations and convenience stores. Over the past 60 days, GLP has witnessed upward earnings estimate revisions for 2023 and 2024, respectively.
The Zacks Consensus Estimate for Global Partners’ 2023 and 2024 earnings per share is pegged at $3.46 and $3.69, respectively. GLP currently has a Zacks Style Score of A for Value and Growth.