Marathon Oil Plans To Sell Part Of Alba Field LNG Produce To Glencore
Portfolio Pulse from Lekha Gupta
Marathon Oil Corp (MRO) has signed a five-year deal with Glencore PLC (GLCNF) to sell a portion of its natural gas produced from the Alba Field in Equatorial Guinea. The deal, which is effective from January 1, 2024, is linked to the Dutch Title Transfer Facility (TTF) index, less a fixed transportation fee. This offers Marathon Oil significant exposure to the European LNG market. MRO also plans to optimize its Equatorial Guinea integrated gas operations in 2024 by redirecting a portion of Alba Unit natural gas from the local methanol facility to the LNG facility.
October 17, 2023 | 12:52 pm
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POSITIVE IMPACT
Glencore's deal with Marathon Oil to purchase part of its natural gas from the Alba Field could potentially increase its natural gas assets and boost its revenues.
The deal with Marathon Oil could potentially increase Glencore's natural gas assets and its revenues, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Marathon Oil's deal with Glencore to sell part of its natural gas from the Alba Field and its plans to optimize its Equatorial Guinea integrated gas operations could potentially increase its exposure to the European LNG market and boost its revenues.
The deal with Glencore and the optimization of its Equatorial Guinea operations could potentially increase Marathon Oil's revenues and its exposure to the European LNG market, which could positively impact its stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100