The Zacks Analyst Blog Highlights: Royal Dutch Shell Plc, PetroChina, Apache, Encana and EOG Resources - Press Releases
April 17 2012 - 4:30AM
Zacks
For Immediate Release
Chicago, IL – April 17, 2012 – Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include Royal Dutch Shell
Plc ( RDS.A), PetroChina Co.
Ltd ( PTR), Apache Corp ( APA),
Encana Corp ( ECA) and EOG
Resources ( EOG).
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Here are highlights from Monday’s Analyst
Blog:
Shell JV for 3rd Canadian LNG
Plant
As per news reports, European oil biggie Royal
Dutch Shell Plc ( RDS.A) has joined hands with
Japanese energy giant Mitsubishi Corporation, state-controlled
China National Petroleum Corporation and Korea Gas Corporation to
set up a liquefied natural gas (LNG) terminal on the western coast
of Canada.
Although none of the companies confirmed the financial terms of
the project, the plant is estimated to value over 1-trillion-yen or
US$12.4 billion.
The terminal, which will be built near Kitimat, British
Columbia, is expected to come online in 2020 and generate almost 12
million tons of liquefied natural gas annually.
The companies have decided to put up this unit to facilitate a
smooth supply of LNG to the Asian market to satiate the growing
demand of the region.
Additionally, excess supply of natural gas has pulled down the
North American markets, forcing many companies to look for
alternative routes. Hence, the big energy firms are eyeing the
potentially rich Asian land that still offers a high price for
LNG.
In October, last year, Shell had first announced the plans for
this venture, following the purchase of the dormant Methanex marine
facility in Kitimat along with other partners. In February 2012,
PetroChina Co. Ltd ( PTR) – unit of China
National Petroleum Corp. – agreed to fund the gas development
project, becoming Shell’s financial associate.
However, the distribution of stakes in the joint venture has not
yet been settled by the four companies. The decision is expected
shortly. The project is also pending necessary local authority
approvals.
Kitimat seems to have become a favorite spot for companies
seeking to venture into LNG projects. The area already holds two
planned liquefaction projects – Kitimat LNG that is controlled
by Apache Corp (
APA), Encana Corp ( ECA)
and EOG Resources ( EOG); and BC LNG,
monitored by a 13-member private cooperative.
We have a long-term Neutral recommendation for Shell,
PetroChina, Apache, Encana and EOG shares.
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APACHE CORP (APA): Free Stock Analysis Report
ENCANA CORP (ECA): Free Stock Analysis Report
EOG RES INC (EOG): Free Stock Analysis Report
PETROCHINA ADR (PTR): Free Stock Analysis Report
ROYAL DTCH SH-A (RDS.A): Free Stock Analysis Report
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