Woodside Energy, Santos and Origin Energy are poised to unveil what some analysts are describing as a “cash windfall” from rampant prices for both export LNG and domestic east coast gas.
Woodside Energy, Santos and Origin Energy are poised to unveil what some analysts are describing as a “cash windfall” from rampant prices for both export LNG and domestic east coast gas in what should be a bumper June quarter even as cost pressures grow.
The average in June was the highest since 2008 and while prices have since softened the quarter will also be marked by strong prices for LNG sold under long-term contracts, which typically follows oil with a lag of three-six months. “The market will also be on the lookout for signs of opex inflation and any project execution updates amidst challenging supply chain and inflationary backdrops.”its $16.5 billion Scarborough LNG project in Western Australia
UBS analyst Tom Allen last week singled out Santos as the team’s most preferred Australian energy stock, even after raising its call on Woodside to “buy”. It also applied a “new conservatism” to its valuation of Santos, cutting the value it ascribes to its Alaskan oil venture inherited through the merger with Oil Search.to 50 per cent, citing “the increasing importance of new sources of east coast domestic gas”.
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