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Shell (SHEL) Wins 9.4% Stake in Qatar's LNG Expansion Project
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Shell plc (SHEL - Free Report) recently announced that it has been selected as the second international partner in the North Field South (“NFS”) liquefied natural gas (LNG) expansion project offshore Qatar by the Qatari government-owned energy company — QatarEnergy.
The London-headquartered energy major obtained a 9.375% participating interest in the 16 metric tons per annum (Mtpa) NFS project of the 25% interest offered to potential international partners. The remaining 75% will be owned by QatarEnergy.
The expansion plan, which consists of two phases, involves six LNG trains to enhance liquefaction capacity to 126 Mtpa by 2027 from 77 Mtpa. The first North Field East phase is anticipated to add 33 Mtpa, while the NFS phase, as previously mentioned, will add another 16 Mtpa.
Ben van Beurden, the chief executive officer of Shell, mentioned that he was elated with the fact that Shell’s strategic partnership with QatarEnergy has deepened through its participation in the NFS project. “LNG has a key role in ensuring energy system reliability and our investments with QatarEnergy will support the energy transition and energy security, two of the most fundamental challenges the world faces today,” he added.
Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company.
The Zacks Consensus Estimate for Phillips’ 2022 earnings stands at $17.41 per share, up about 205.4% from the year-ago earnings of $5.70.
PSX beat estimates for earnings in all the trailing four quarters, the average being around 36.4%.
Estimates for Chesapeake’s 2022 EPS have been revised upward over the past 60 days from $16.31 to $16.55.
CHK beat the consensus mark for earnings in three of the trailing four quarters, the average being 24.5%.
The Zacks Consensus Estimate for PBF Energy’s 2022 earnings stands at $21.36 per share, indicating an increase of about 954.4% from the year-ago loss of $2.50.
PBF beat the consensus mark for earnings in all the trailing four quarters, the average being around 78%.
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Shell (SHEL) Wins 9.4% Stake in Qatar's LNG Expansion Project
Shell plc (SHEL - Free Report) recently announced that it has been selected as the second international partner in the North Field South (“NFS”) liquefied natural gas (LNG) expansion project offshore Qatar by the Qatari government-owned energy company — QatarEnergy.
The London-headquartered energy major obtained a 9.375% participating interest in the 16 metric tons per annum (Mtpa) NFS project of the 25% interest offered to potential international partners. The remaining 75% will be owned by QatarEnergy.
The expansion plan, which consists of two phases, involves six LNG trains to enhance liquefaction capacity to 126 Mtpa by 2027 from 77 Mtpa. The first North Field East phase is anticipated to add 33 Mtpa, while the NFS phase, as previously mentioned, will add another 16 Mtpa.
Ben van Beurden, the chief executive officer of Shell, mentioned that he was elated with the fact that Shell’s strategic partnership with QatarEnergy has deepened through its participation in the NFS project. “LNG has a key role in ensuring energy system reliability and our investments with QatarEnergy will support the energy transition and energy security, two of the most fundamental challenges the world faces today,” he added.
Shell is one of the primary oil supermajors, a group of U.S. and Europe-based big energy multinationals with operations spanning worldwide. The company is fully integrated as it participates in every aspect related to energy, from oil production to refining and marketing. SHEL operates as an energy and petrochemical company.
Shell currently has a Zacks Rank #2 (Buy). Investors interested in the energy space might also look at some other similar-ranked stocks — Phillips 66 (PSX - Free Report) , Chesapeake Energy (CHK - Free Report) and PBF Energy (PBF - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Phillips’ 2022 earnings stands at $17.41 per share, up about 205.4% from the year-ago earnings of $5.70.
PSX beat estimates for earnings in all the trailing four quarters, the average being around 36.4%.
Estimates for Chesapeake’s 2022 EPS have been revised upward over the past 60 days from $16.31 to $16.55.
CHK beat the consensus mark for earnings in three of the trailing four quarters, the average being 24.5%.
The Zacks Consensus Estimate for PBF Energy’s 2022 earnings stands at $21.36 per share, indicating an increase of about 954.4% from the year-ago loss of $2.50.
PBF beat the consensus mark for earnings in all the trailing four quarters, the average being around 78%.