ConocoPhillips signs 20-year LNG deal with Venture Global

Impact · against what's priced in

The LNG deal is a negligible catalyst for COP because the volume does not start until 2030 and does not address the current market's skepticism regarding immediate revenue deceleration or the specific FCF breakeven targets for 2029.

COP+0.05

Not in the price yet

The price assumes

implied revenue CAGR (reverse DCF): -2.4%

While securing 1 million tonnes per year of LNG provides long-term predictability, the delivery does not begin until 2030, meaning it has virtually no impact on the immediate revenue deceleration (-2.4% CAGR) the market is currently pricing.

What COP's price assumes · Sep 3

• energy
• COP
• conocophillips
• lng
• natural gas
• supply agreement
• venture global

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