ARC Resources Secures Long-Term LNG Deal with ExxonMobil

ARC Resources ( (TSE:ARX) ) has issued an announcement.

ARC Resources Ltd. has entered into a long-term sale and purchase agreement with ExxonMobil LNG Asia Pacific for the supply of liquefied natural gas from the Cedar LNG Project. This agreement marks a significant step in ARC’s strategy to link a substantial portion of its future natural gas production to international pricing, enhancing its market diversification and margin expansion. The partnership with ExxonMobil provides the latter with its first long-term offtake position on Canada’s Pacific Coast, strengthening both companies’ positions in the global LNG market.

More about ARC Resources

ARC Resources Ltd. is a prominent Canadian company in the natural gas industry, focusing on the production and supply of natural gas. The company is known for its strategic initiatives to diversify and expand its market presence, particularly in the global LNG market.

YTD Price Performance: -7.44%

Average Trading Volume: 51,558

Technical Sentiment Consensus Rating: Sell

Current Market Cap: $10.23B

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