Stifel notes that Transportadora De Gas del Sur S.A. received approval yesterday to expand the first segment of the Perito Francisco Pascasio Moreno gas pipeline, which will debottleneck gas egress from the Vaca Muerta shale formation. The firm, which says FLNG momentum is “clearly building quickly” in Argentina, expects this should expedite the signing of a contract for Golar LNG’s (GLNG) first MKII FLNG conversion, the Fuji). The firm, which expects the contract completion to be a catalyst for shares, as incorporated into its $53 target price, maintains a Buy rating on Golar LNG, which is up about 5% to $42.43 in afternoon trading.
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Read More on GLNG:
- Golar LNG Highlights 2024 Performance and Project Risks
- Golar LNG downgraded to Hold from Buy at Fearnley
- Golar LNG Reports Q3 Loss Amid Strategic Expansions
- Golar LNG to Distribute Dividend Amid Regulatory Changes
- Golar LNG Eyes Growth Amid New FLNG Projects
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
