ConocoPhillips & Pearl River Investment Ink Long-Term LNG Supply Deal

ConocoPhillips COP, a leading global exploration and production company, has signed a long-term agreement with Guangdong Pearl River Investment Management Group for the supply of liquefied natural gas (“LNG”). The upstream energy firm has signed an LNG sales and purchase agreement (“SPA”) with Pearl River Investment for a duration of 15 years.Neither ConocoPhillips nor Guangdong Pearl River Investment Management Group has disclosed the details of the agreement yet. However, according to sources familiar with the matter, COP will supply approximately 300,000 metric tons of LNG per year, starting in 2028.Strategic Role of Huizhou LNG TerminalPearl River Investment Management is an investor in the Huizhou LNG receiving terminal in the Guangdong province, in southern China. The facility is led by the Guangdong Energy Group. The terminal at Huizhou has the capacity to process 4 million metric tons of LNG per year. Additionally, Guangdong Energy is also involved in electricity transmission and power generation, and other services in China.Global LNG Market OutlookIn the Qatar Economic Forum in Doha, ConocoPhillips’ CEO mentioned that the market for LNG is growing. The LNG market is expected to grow from its current volume of 400 million tons to over 700 million tons within the next decade. The LNG infrastructure on the supply side needs to expand to accommodate the growing demand for the commodity.Qatar and the United States remain two of the largest suppliers of LNG globally, with U.S. volumes mainly catering to the energy demand in Europe and South America, and Qatar primarily serving the markets in Asia. ConocoPhillips CEO Ryan Lance emphasized that LNG volumes from both the United States and Qatar need to grow to meet the rising demand for energy.COP’s Zacks Rank and Key PicksCOP currently carries a Zacks Rank #5 (Strong Sell).Some better-ranked stocks from the energy sector are Diversified Energy Company plc DEC, Expand Energy Corporation EXE and RPC, Inc. RES, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Diversified Energy Company is an independent oil and natural gas producer in the United States. The company is primarily engaged in the production, transportation, and marketing of natural gas and natural gas liquids. The rising demand for natural gas as a cleaner-burning fuel and an uptick in the commodity’s prices are expected to positively impact the company’s bottom line.Expand Energy is a leading U.S.-based natural gas producer formed through the merger of Chesapeake Energy Corporation and Southwestern Energy Company. Natural gas is expected to play an increasingly important role in the energy transition journey. Expand Energy is poised to benefit from the rising demand for natural gas as a cleaner-burning fuel. The recent rise in natural gas prices is also anticipated to positively impact EXE’s profitability.RPC generates strong and stable revenues through a diverse range of oilfield services, including pressure pumping, coiled tubing and rental tools. RPC is strongly committed to returning value to shareholders through consistent dividend payments and share buybacks, making it an attractive choice for investors seeking steady returns.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report ConocoPhillips (COP): Free Stock Analysis Report Diversified Energy Company PLC (DEC): Free Stock Analysis Report RPC, Inc. (RES): Free Stock Analysis Report Expand Energy Corporation (EXE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks