TotalEnergies Secures New LNG Supply Contract Boosting Shares
TotalEnergies Shares Surge After Winning LNG Tender
TotalEnergies SE (NYSE: TTE) shares are experiencing an upward trend following the company’s recent victory in securing the top spot for LNG supply at the Alexandroupolis terminal in Greece for late 2024. This accomplishment not only signifies a strategic win for the company but also reflects its competitive prowess in a growing market.
Details of the LNG Tender
The natural gas distribution company, Bulgargaz, announced that it received interest from thirteen major international players in the LNG tender, with six companies submitting binding offers. Winning this tender offers TotalEnergies an advantageous position in the LNG supply market, further fortifying its operational scope.
Previous Tender Activity
In addition to the recent tender, Bulgargaz has plans for five LNG cargoes totaling 5,000,000 MWh, with another tender already closed for October deliveries. Notably, an LNG shipment from Norway has been successfully delivered, showcasing the timely execution of supply contracts.
Upcoming Supply Agreements
This week, TotalEnergies also finalized a mid-term supply agreement with Santos, which stipulates the delivery of 20 LNG cargoes annually commencing in the fourth quarter of 2025. This deal expands TotalEnergies’ portfolio in the LNG sector, enhancing its role in this burgeoning market.
Future Production Projections
The outlook for TotalEnergies appears robust, as the company anticipates a yearly growth rate of approximately 3% in oil and gas production through 2030. This growth is primarily driven by ongoing investment in LNG, with six significant projects slated to launch across various countries in 2024. These projects in Brazil, Suriname, Angola, Oman, and Nigeria are poised to contribute significantly to the company’s future production capacity.
Investor Opportunities
Investors looking to delve into TotalEnergies can also explore related investment avenues through Advisor Managed Portfolios like the Miller Value Partners Appreciation ETF (NYSE: MVPA) and the Octane All-Cap Value Energy ETF (NASDAQ: OCTA). These options allow for diversified involvement in the energy sector, particularly in companies making substantial operational moves like TotalEnergies.
Current Stock Performance
As of the latest market check, TTE shares have risen by 1.47%, trading at approximately $68.88. This increase reflects investor confidence and a positive reception following the recent contract wins and growth announcements.
Frequently Asked Questions
What recent contract did TotalEnergies secure?
TotalEnergies secured a contract to supply LNG at the Alexandroupolis terminal in Greece for November and December 2024.
What are the expected impacts of the new LNG supply deal?
The new LNG supply deal is expected to enhance TotalEnergies' position in the LNG market and contribute to its growth projections in oil and gas production.
Which ETFs are related to TotalEnergies?
Investors can consider the Miller Value Partners Appreciation ETF (MVPA) and the Octane All-Cap Value Energy ETF (OCTA) for exposure to TotalEnergies.
How is TotalEnergies performing in the stock market?
TotalEnergies shares are currently up 1.47%, demonstrating positive market sentiment following their recent contract announcements.
What is the projected growth for TotalEnergies through 2030?
TotalEnergies expects to see a 3% annual growth rate in oil and gas production through 2030, largely driven by its LNG initiatives.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.