Glenfarne and Donlin Sign LOI for Natural Gas Supply
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 22h ago
0mins
Source: Businesswire
- Natural Gas Supply Agreement: Glenfarne and Donlin have signed a non-binding Letter of Intent to supply up to 50 million cubic feet of natural gas per day, which is expected to significantly lower energy costs in Alaska and facilitate the development of energy-intensive mining projects.
- Infrastructure Development Collaboration: The companies will jointly develop an approximately 315-mile natural gas pipeline connecting Southcentral Alaska to the Donlin Gold mine, ensuring a stable energy supply that enhances the mine's economic viability and sustainability.
- Phased Project Advancement: Glenfarne is executing the Alaska LNG project in two financially independent phases, with the first phase involving a 765-mile pipeline to meet Alaska's domestic energy needs, while the second phase will add an LNG terminal with an export capacity of 20 million tonnes per annum.
- Strategic Investment Outlook: Glenfarne operates 60 energy assets globally and has secured preliminary commercial commitments with LNG buyers in Japan and Korea, demonstrating its strong influence in the global energy market and potential for future growth.
Analyst Views on NOV
Wall Street analysts forecast NOV stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for NOV is 16.09 USD with a low forecast of 13.00 USD and a high forecast of 19.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
12 Analyst Rating
6 Buy
4 Hold
2 Sell
Moderate Buy
Current: 16.840
Low
13.00
Averages
16.09
High
19.00
Current: 16.840
Low
13.00
Averages
16.09
High
19.00
About NOV
NOV Inc. is an independent provider of equipment and technology to the upstream oil and gas industry. The Company's proprietary technology portfolio supports the industry’s drilling, completion, and production needs. It operates under two segments: Energy Products and Services, and Energy Equipment. The Company’s Energy Products and Services segment primarily designs, manufactures, rents, and sells products and equipment used in drilling, intervention, completion, and production activities. Its products include drill bits, downhole tools, premium drill pipe, drilling fluids, managed pressure drilling, integral and weld-on connectors for conductor strings and surface casing, completion tools, and artificial lift systems. Its Energy Equipment segment manufactures and supports the capital equipment and integrated systems needed for oil and gas exploration and production, both onshore and offshore, as well as for other marine-based, industrial and renewable energy markets.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
