Beach Energy logo

BPT - Beach Energy News Story

A$1.66 0.0  0.6%

Last Trade - 5:11am

Sector
Energy
Size
Mid Cap
Market Cap £2.10bn
Enterprise Value £2.14bn
Revenue £844.4m
Position in Universe 134th / 1831

BUZZ-Aussie energy firms: Rising LNG prices to drive project sanctions in 2021, says Morgan Stanley

Wed 20th January, 2021 11:41pm
** Morgan Stanley expects project sanctions by Australian
energy firms in 2021 due to solid outlook for LNG prices
    ** Spot LNG prices spiked in the December quarter and into
January, driven by strong demand amid a winter spell in north
Asia and a supply squeeze
    ** Whilst the spike is likely short-lived and appears to be
receding, a better LNG outlook is coming - MS
    ** Says higher LNG prices also provide a better backdrop for
project sanctions, including Santos Ltd's  STO.AX  Barossa and
Woodside Petroleum's  WPL.AX  Scarborough
    ** Barossa and Scarborough on track for final investment
decisions in H1 and H2 of 2021, Santos and Woodside said in
their respective quarterly production updates on Thursday
 urn:newsml:reuters.com:*:nASX6bwbYz  urn:newsml:reuters.com:*:nASX1lcZpM
    ** Says Woodside retains the most leverage to higher spot
LNG prices with ~15-20% exposure in 2021, compared with Santos
and Oil Search  OSH.AX , which are close to ~10% 
    ** Karoon Energy  KAR.AX  broker's top pick amid small caps,
while Santos is most favoured among large caps

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.