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EQT Enters Heads of Agreement for LNG Production in Texas
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EQT Corporation (EQT - Free Report) announced on Thursday that it has successfully entered a Heads of Agreement (“HOA”) with Texas LNG, a subsidiary of Glenfarne Energy Transition, LLC, for liquefaction services. The agreement, structured as a 15-year tolling agreement, marks a pivotal step forward for EQT in its pursuit of a differentiated liquefied natural gas (LNG) strategy.
Under the terms of the HOA, EQT aims to produce an annual volume of 500,000 tons of (LNG) at Texas LNG's facility in Brownsville, TX. The finalization of the deal is contingent upon the negotiation of a definitive agreement between the two parties. Texas LNG is optimistic about reaching a final investment decision on the project by 2024, with the first cargo deliveries projected for 2028.
Toby Z. Rice, the president and CEO of EQT, expressed enthusiasm about the strategic collaboration, emphasizing its alignment with EQT's differentiated LNG strategy. Rice highlighted the company's commitment to balancing upside exposure and downside risk mitigation, with tolling capacity providing direct connectivity to global natural gas end users. This offers EQT the flexibility to structure end-market deals effectively while ensuring superior protection against potential downside risks.
According to Rice, EQT's molecules are anticipated to be increasingly sought after in the international market as a secure, long-duration supply source capable of driving significant emissions reductions through the displacement of coal.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand due to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape, with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Enbridge has an extensive oil and liquid pipeline system that spreads across 17,809 miles. A significant portion of the midstream operator’s earnings is generated from transportation operations, driven by a string of long-term contracts. ENB anticipates substantial cash flows from recently completed midstream projects.
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EQT Enters Heads of Agreement for LNG Production in Texas
EQT Corporation (EQT - Free Report) announced on Thursday that it has successfully entered a Heads of Agreement (“HOA”) with Texas LNG, a subsidiary of Glenfarne Energy Transition, LLC, for liquefaction services. The agreement, structured as a 15-year tolling agreement, marks a pivotal step forward for EQT in its pursuit of a differentiated liquefied natural gas (LNG) strategy.
Under the terms of the HOA, EQT aims to produce an annual volume of 500,000 tons of (LNG) at Texas LNG's facility in Brownsville, TX. The finalization of the deal is contingent upon the negotiation of a definitive agreement between the two parties. Texas LNG is optimistic about reaching a final investment decision on the project by 2024, with the first cargo deliveries projected for 2028.
Toby Z. Rice, the president and CEO of EQT, expressed enthusiasm about the strategic collaboration, emphasizing its alignment with EQT's differentiated LNG strategy. Rice highlighted the company's commitment to balancing upside exposure and downside risk mitigation, with tolling capacity providing direct connectivity to global natural gas end users. This offers EQT the flexibility to structure end-market deals effectively while ensuring superior protection against potential downside risks.
According to Rice, EQT's molecules are anticipated to be increasingly sought after in the international market as a secure, long-duration supply source capable of driving significant emissions reductions through the displacement of coal.
Zacks Rank & Key Picks
Currently, EQT carries a Zacks Rank #5 (Sell).
Some better-ranked stocks in the energy sector are Sunoco LP (SUN - Free Report) , The Williams Companies, Inc. (WMB - Free Report) and Enbridge Inc. (ENB - Free Report) . While Sunoco sports a Zacks Rank #1 (Strong Buy), Williams Companies and Enbridge each carry a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow.
SUN’s earnings beat estimates in two of the trailing four quarters and missed twice, delivering an average surprise of 28.33%.
The Williams Companies is well-positioned to capitalize on the anticipated substantial long-term growth in U.S. natural gas demand due to its impressive portfolio of large-scale projects that create significant value. The company’s debt maturity profile is in good shape, with its $4.5-billion revolver maturing in fiscal 2023.
WMB’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 13.68%.
Enbridge has an extensive oil and liquid pipeline system that spreads across 17,809 miles. A significant portion of the midstream operator’s earnings is generated from transportation operations, driven by a string of long-term contracts. ENB anticipates substantial cash flows from recently completed midstream projects.