Exxon Mobil's LNG Expansion On Track To Double By 2030: Report
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corporation (NYSE:XOM) is on track to double its LNG portfolio to 40 million tons per annum by 2030, ahead of schedule. The company aims to focus on selling its own gas, differentiating itself from competitors like Shell and Total. This expansion is part of a broader corporate reorganization started in 2022. Exxon's LNG production is nearing 30 mtpa, with significant growth expected from the Golden Pass LNG project. Investors can gain exposure to Exxon through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).
March 22, 2024 | 2:54 pm
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POSITIVE IMPACT
iShares U.S. Energy ETF (IYE) offers exposure to Exxon Mobil, benefiting from its LNG expansion.
Given that IYE provides exposure to Exxon Mobil, the company's positive momentum in its LNG expansion and strategic initiatives are expected to positively influence IYE's performance in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
SPDR Select Sector Fund – Energy Select Sector (XLE) offers exposure to Exxon Mobil, which is expanding its LNG portfolio.
As XLE provides exposure to Exxon Mobil, the positive developments in Exxon's LNG expansion and strategic focus are likely to have a favorable impact on XLE's performance in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 70
POSITIVE IMPACT
Exxon Mobil is advancing its LNG expansion, aiming to double its portfolio by 2030, focusing on selling its own gas.
Exxon Mobil's ahead-of-schedule expansion and strategic focus on selling its own gas, rather than trading, positions it for significant growth. This, combined with its aim for financial robustness in its LNG portfolio, suggests a positive outlook for its stock in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100