Shell (SHEL) Backs Energy Transfer's New LNG Export License Bid
10.26.2023 By Tank Terminals - NEWS

October 26, 2023 [Yahoo Finance]- Shell plc (SHEL) has extended its support to Energy Transfer LP’s ET application for a fresh license to export liquefied natural gas (LNG) to countries lacking free trade agreements with the United States, reinforcing ET’s reputation as a reliable gas supplier, per a Reuters report.

 

Jill Davies, president of Shell North America LNG, emphasized the growing importance of supply reliability in recent dealings with non-free trade nations purchasing U.S. LNG. In a letter obtained by Reuters, Davies praised Energy Transfer’s credibility to deliver on what it promises.

In August, ET sought an expedited export license for its proposed Lake Charles, LA, LNG facility, per a filing with the Department of Energy (DOE).

Earlier in May, the DOE declined Energy Transfer’s request for a three-year extension on its previous license, citing insufficient grounds for a second extension. Numerous companies, including Commonwealth LNG, have been awaiting approval for their non-FTA licenses.

SK Gas LLC of South Korea and U.S.-based independent gas producer EQT Corporation EQT have also submitted letters to the DOE supporting Energy Transfer’s application.

Energy Transfer has been actively pursuing the multi-billion-dollar Lake Charles LNG project since 2012. In an August filing, the company cited an inability to meet the existing license’s 2025 deadline, proposing a new license by Feb 19, 2024, which would allow an additional seven years for project completion. The company cited unforeseen delays and the decision to incorporate a carbon capture and sequestration component into the plant as contributing factors to the construction timeline.

Shell is a group of U.S. and Europe-based big energy multinationals with operations across the world. Another stock for investors interested in the energy sector is Matador Resources Company MTDR.

Matador Resources is among the leading oil and gas explorers in the shale and unconventional resources in the United States. The company’s prime intention is to create more value for shareholders and generate lucrative returns from the capital invested in unconventional plays. MTDR has witnessed an upward earnings estimate revision for 2023 and 2024 over the past seven days.

MTDR’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 11.77%.

 

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

ConocoPhillips Working to Resume APLNG Terminal Ops
12.05.2023 - NEWS
December 5, 2023 [LNG Prime]- A unit of ConocoPhillips is working to resume production at the Aus... Read More
Peru LNG Terminal Sent Four Cargoes in November
12.05.2023 - NEWS
December 5, 2023 [LNG Prime]- Peru LNG’s liquefaction plant at Pampa Melchorita has shipped fou... Read More
India’s Top Clean Energy Firm to Invest $22 Billion to Boost Capacity Fivefold
12.05.2023 - NEWS
December 5, 2023 [Oil Price]- Adani Green Energy, the biggest renewable power producer in India, ... Read More
Oil Prices Little Changed Amid OPEC+ Cut Doubts, Mid-East Tension
12.05.2023 - NEWS
December 5, 2023 [Reuters]- Oil prices were little changed on Tuesday amid uncertainty over volun... Read More