Friday, December 1 2023 Sign In   |    Register

News Quick Search



Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Nov 27
Week of Nov 20
Week of Nov 13
Week of Nov 06
Week of Oct 30
By Topic
By News Partner
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    EQT, Commonwealth Enter Into a 15-year Tolling LNG Agreement

    September 19, 2023 - Zacks Equity Research


      EQT Corporation ( EQT ) announced a 15-year tolling agreement to supply 1 million tons per year of liquefied natural gas (LNG) to the planned Commonwealth LNG facility in Louisiana.

      Commonwealth LNG is currently in the process of developing an LNG export terminal project, with a projected capacity of 9.3 million tons per year, on the Calcasieu River in the Gulf of Mexico. The final terms of the EQT deal are pending a final investment decision, anticipated in the first quarter of 2024 with first cargo deliveries anticipated in 2027.

      According to EQT president and CEO Toby Rice, the tolling agreement provides the company with the crucial flexibility to directly supply natural gas to end users on a global scale. By diversifying the company's production to international markets, EQT aims to optimize its exposure while effectively mitigating potential downside risks. This signifies a fundamental shift in the traditional LNG market dynamics, offering a more streamlined and efficient means of distribution.

      EQT's natural gas production achieved an impressive 20% year-on-year reduction in Scope 1 and Scope 2 greenhouse gas emissions. This aligns seamlessly with Commonwealth LNG's vision of setting new industry standards for environmental responsibility. By accessing EQT's low-emission natural gas resources, Commonwealth LNG is well poised to achieve its goal of becoming a leader in environmental standards within the LNG sector.

      Zacks Rank & Key Picks

      Currently, EQT carries a Zack Rank #3 (Hold).

      Some better-ranked players in the energy sector are USA Compression Partners, LP USAC, currently sporting a Zacks Rank #1 (Strong Buy), and Global Partners GLP and Core Laboratories Inc CLB, both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today's Zacks #1 Rank stocks here .

      USA Compression Partners is one of the largest independent natural gas compression service providers across the United States in terms of fleet horsepower. USAC has witnessed an upward earnings estimate revision for 2024 in the past 30 days.

      Global Partners is a Delaware limited partnership, formed by affiliates of the Slifka family. The partnership owns, controls or has access to one of the largest terminal networks of refined petroleum products in New England. GLP is one of the largest wholesale distributors of distillates. It has witnessed an upward earnings estimate revision for 2023 and 2024 in the past 60 days.

      Core Laboratories' strong presence in the emerging shale plays and its global footprint will provide for steady growth rates going forward. CLB's technology-heavy portfolio of proprietary products and services gives it the opportunity to optimize production from new and existing fields. Core Labs has witnessed an upward earnings estimate revision for 2024 in the past 60 days.

      7 Best Stocks for the Next 30 Days

      Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."

      Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand-picked 7 your immediate attention.

      See them 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

      Core Laboratories Inc. (CLB): Free Stock Analysis Report

      EQT Corporation (EQT): Free Stock Analysis Report

      Global Partners LP (GLP): Free Stock Analysis Report

      USA Compression Partners, LP (USAC): Free Stock Analysis Report

      To read this article on click here.

      Zacks Investment Research


    Other Articles - Generation


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2023 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.