We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ExxonMobil (XOM) Eyes LNG Import Unit Development in Albania
Read MoreHide Full Article
Exxon Mobil Corporation’s (XOM - Free Report) unit, ExxonMobil LNG Market Development Inc., recently signed a memorandum of understanding with U.S.-based floating LNG company, Excelerate Energy L.P., and the Ministry of Infrastructure and Energy of the Republic of Albania to conduct studies for a LNG terminal development in southern Albania.
The three entities are expected to assess and evaluate the potential of a LNG terminal in the Port of Vlora in the Balkan country. The existing power plant at the site will likely be enhanced if a small-scale LNG market is deemed to be viable. There is also an option of converting the Vlora thermal power plant.
The country’s primary energy source is Hydroelectric Power, which can become irregular during draughts. As such, LNG is expected to provide a complementary source of renewable energy to provide continuous power to the country. The move can enhance the country’s energy security through an affordable integration process.
ExxonMobil is one of the biggest LNG producers in the world with a massive LNG supply chain. It will bring its experience in identifying affordable and reliable energy opportunities for the Vlora project. To address the growing global demand for LNG, the company is moving forward with its 12 million tons per annum cheap LNG supply scope.
The company’s multiple massive projects in Mozambique, Papua New Guinea and the United States are expected to enhance global LNG supply chain. The LNG terminal in Albania will create opportunities to supply power in the neighboring countries in the Balkan region as well. Markedly, Excelerate Energy operates 13 LNG terminals around the globe, which makes it a reliable partner in the project. The pre-feasibility report of the project is expected to come as early as the third quarter of this year. At this pace, the Vlora terminal project can commence in 2023.
Price Performance
The stock has gained 75.1% in the past year compared with 69.4% rise of the industry it belongs to.
Berry’s bottom-line estimates for 2021 have witnessed four upward revisions and no downward movement in the past 60 days.
EOG Resources’ bottom line for 2021 is expected to increase 217.8% year over year.
Pembina Pipeline’s bottom line for 2021 is expected to increase 29.3% year over year.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Image: Bigstock
ExxonMobil (XOM) Eyes LNG Import Unit Development in Albania
Exxon Mobil Corporation’s (XOM - Free Report) unit, ExxonMobil LNG Market Development Inc., recently signed a memorandum of understanding with U.S.-based floating LNG company, Excelerate Energy L.P., and the Ministry of Infrastructure and Energy of the Republic of Albania to conduct studies for a LNG terminal development in southern Albania.
The three entities are expected to assess and evaluate the potential of a LNG terminal in the Port of Vlora in the Balkan country. The existing power plant at the site will likely be enhanced if a small-scale LNG market is deemed to be viable. There is also an option of converting the Vlora thermal power plant.
The country’s primary energy source is Hydroelectric Power, which can become irregular during draughts. As such, LNG is expected to provide a complementary source of renewable energy to provide continuous power to the country. The move can enhance the country’s energy security through an affordable integration process.
ExxonMobil is one of the biggest LNG producers in the world with a massive LNG supply chain. It will bring its experience in identifying affordable and reliable energy opportunities for the Vlora project. To address the growing global demand for LNG, the company is moving forward with its 12 million tons per annum cheap LNG supply scope.
The company’s multiple massive projects in Mozambique, Papua New Guinea and the United States are expected to enhance global LNG supply chain. The LNG terminal in Albania will create opportunities to supply power in the neighboring countries in the Balkan region as well. Markedly, Excelerate Energy operates 13 LNG terminals around the globe, which makes it a reliable partner in the project. The pre-feasibility report of the project is expected to come as early as the third quarter of this year. At this pace, the Vlora terminal project can commence in 2023.
Price Performance
The stock has gained 75.1% in the past year compared with 69.4% rise of the industry it belongs to.
Zacks Rank & Other Stocks to Consider
Currently, ExxonMobil sports a Zacks Rank #1 (Strong Buy). Other top-ranked players in the energy space include Berry Corporation (BRY - Free Report) , EOG Resources, Inc. (EOG - Free Report) and Pembina Pipeline Corporation (PBA - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Berry’s bottom-line estimates for 2021 have witnessed four upward revisions and no downward movement in the past 60 days.
EOG Resources’ bottom line for 2021 is expected to increase 217.8% year over year.
Pembina Pipeline’s bottom line for 2021 is expected to increase 29.3% year over year.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>