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Highlights
- In 2018–19, Australia exported almost 74% of the natural gas produced.
- Last month, PO Valley signed gas installation contracts.
- Santos recently secured CO2 storage permits.
Natural gas formation occurs when accumulations of organic matter are buried and subjected to rising heat and pressure over a long period. Australia has a significant amount of both onshore and offshore gas resources.
The Australian liquified natural gas (LNG) business has rapidly expanded on both the west and east coasts, significantly increasing global gas production. These gas projects serve both the domestic market and the global export market. In 2018–19, almost 74% of the natural gas produced was exported.
With this backdrop, we at Kalkine Media® will discuss some ASX-listed natural gas stocks, their recent updates and price returns on a quarter to date (QTD) basis as of 15-Sep-2022.
PO Valley Energy Ltd (ASX:PVE)
Shares of PO Valley Energy are up by about 35.29% this quarter (QTD). The ASX-listed firm has a portfolio of natural gas fields in northern Italy.
Tamboran Resources Ltd (ASX:TBN)
The stock value of Tamboran Resources has appreciated by about 22.72% this QTD. The ASX-listed natural gas company is focused on shale gas explorations in onshore basins.
In the fourth quarter of FY22, Tamboran Resources made material progress towards commercialising its low-carbon dioxide gas resource in the ‘Core’ Beetaloo Subbasin of the Northern Territory. The company ended the quarter with a cash balance of AU$26.8 million.
Santos Ltd (ASX:STO)
Santos recently secured CO2 storage permits. It will allow the company to carry out potential carbon capture and storage (CCS) opportunities with its joint venture partners.
Shares of the ASX-listed natural gas company are high by about 6.67% this QTD. The company is a pioneer in Australian energy. Backed by a portfolio of high-quality LNG, pipeline gas and oil assets, Santos is steered by its mission to be a leader of LNG suppliers in Asia-Pacific.
Woodside Energy Group Ltd (ASX:WDS)
Shares of the Australia domiciled global energy company are green by around 5.60% this QTD. It operates through three segments: Australia, International and Marketing.
In the half-year results of FY22, the company reported a 132% surge in operating revenue and a 417% increment in net profit after tax. Similarly, it increased its fully franked interim dividend by 263%.
