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BP p.l.c. (BP) - $25 value - yours FREE >>
Petroleo Brasileiro S.A.- Petrobras (PBR) - $25 value - yours FREE >>
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Repsol Inks Deal to Buy LNG From Venture Global for 20 Years
Repsol, S.A. (REPYY - Free Report) recently agreed to buy one million tons per annum (MTPA) of liquefied natural gas (LNG) from Venture Global LNG, Inc., a Washington, DC-based private LNG provider. The Sales and Purchase Agreement (SPA) has a binding term of 20 years.
Repsol will receive the supply on a free on board (FOB) basis from the Venture Global Calcasieu Pass LNG export facility, which is being built in Cameron Parish, LA. The facility — which has a capacity of 10 MTPA — awaits final investment decision and is expected to come online in 2022.
With this deal, Repsol is joining its European peers like Royal Dutch Shell plc and BP plc (BP - Free Report) , which have already lend their support to the facility that will own nine liquefaction blocks with 1.2 MTPA capacity along with two LNG storage tanks of 200 thousand cubic meters. The agreement with Venture Global will likely bring Repsol closer to its goal of reaching 2.5 million retail gas and electricity clients in Spain by 2025. Notably, the company declared its intention of attaining a low-carbon generation capacity of around 4,500 megawatt along with carrying out its updated strategic plans undertaken in June.
Madrid-based integrated energy company, Repsol, which advocates energy transition, has gained 6.8% in the past year compared with 8.6% collective growth of its industry.
Zacks Rank and Stock to Consider
Currently, Repsol carries a Zacks Rank #3 (Hold).
Investors interested in the energy sector can opt for a better-ranked stock such as Petroleo Brasileiro S.A. or Petrobras (PBR - Free Report) , sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Rio de Janeiro, Brazil-based Petrobras is an integrated energy company. The company’s top line for 2018 is likely to improve 7.5% year over year. In the last four reported quarters, it delivered an average positive earnings surprise of 10.4%.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>