Fuelling the transition: at the current growth rate, gas will need all the capital it can get
M&A: Oil majors jockey for position to ride an LNG boom
Firms are reshuffling their portfolios in favour of gas ahead of the looming energy inflection point
Although gas may not dominate energy supply for another 10-20 years or more, the industry is looking over the horizon. Following on from a series of liquefied-natural-gas-driven M&As that included ExxonMobil's acquisition of a 25% stake in Mozambique Area 4 and Shell's purchase of Chevron's position in Trinidad, Total and others have maintained the momentum. The latest round of deals reflects a continuing scramble for the whole working package-access to low-cost fields, transport, sales and purchase contracts, and regasification. In short, an investment that gets off to a quick and profitable start. Exxon, for instance, described its Mozambique acquisition as coming "at a cost of supp
Also in this section
22 November 2024
The Energy Transition Advancement Index highlights how the kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
21 November 2024
Maintaining a competitive edge means the transformation must maximise oil resources as well as make strategic moves with critical minerals
20 November 2024
The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
