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Goldman Sachs Positive on Cyprus Success for Noble Energy

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Goldman Sachs has published a research report on Noble Energy (NYSE: NBL) stating that the Cyprus success may help EU-based LNG.

In the report, Goldman Sachs writes, "We believe this success is material enough to fast-track an LNG development in Cyprus, a European Union member country, that would take gas from the Cyprus discovery and potentially from Noble's Leviathan discovery in Israel as well. We view this as significant because we believe there are fewer political hurdles for consumers to take gas from an EU country. We see Europe becoming more aggressive in seeking alternatives to depending on gas from Russia, and as such we believe an EU-based LNG solution would be of high strategic interest. While the timing of a new project is likely to be in the second half of the decade, we expect Noble and Cypriot/Israeli authorities to move quickly towards appraisal/additional exploration and defining taxation/other regulations."

Goldman Sachs maitnains its CL-Buy rating on Noble Energy, which closed yesterday at $95.64.

Posted-In: cyprus Goldman SachsAnalyst Color News Reiteration M&A Pre-Market Outlook Analyst Ratings

 

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