FN Media Group Presents Oilprice.com Market Commentary
, /PRNewswire/ — Supergiants like Exxon are focused on big offshore venues like Guyana and Namibia, leaving behind prime onshore natural gas assets in Europe – a region that is now desperate for affordable domestic resources that Russian Gazprom doesn’t control. Companies mentioned in this release include: Chevron (NYSE:CVX), ExxonMobil (NYSE:XOM), ConocoPhillips (NYSE:COP), Talos Energy (NYSE:TALO), Cheniere Energy (NYSE:LNG).
Germany, for example, is scrambling for gas, even if this winter’s storage is nearly full. And unfortunately, it traded one form of dependence for another. In fact, at the height of the crisis, the European Union was paying some 40% more for U.S. LNG imports than it was for Russian piped gas.
But there is a far cheaper domestic alternative, and it’s found in assets abandoned by the supergiants off chasing bigger oil and gas dreams offshore. What’s too small for Exxon and others, could be of huge potential …