Reported 2 days ago
U.S. oil companies Exxon and Chevron are focusing on growing their liquefied natural gas (LNG) trading operations in Europe, aiming to catch up with European leaders like BP and Shell, who excel in this market. As demand for LNG surges, particularly in Asia, these companies are making strategic moves, including appointing new heads for their LNG divisions and signing supply agreements. With Europe increasingly relying on U.S. energy and projected LNG demand anticipated to rise significantly in the coming years, competition among suppliers is expected to benefit large consumers.
Source: YAHOO