Chevron Is Stomping on the Gas to Solve Europe's Energy Crisis
Europe is facing an energy crisis. Prices for natural gas and electricity are skyrocketing, driven by its reliance on Russian gas. Russia has reduced supplies in response to sanctions following its invasion of Ukraine, forcing Europe to scramble to secure gas supplies elsewhere.
Energy giant Chevron (NYSE: CVX) is working to help solve these problems by looking for ways to boost its liquefied natural gas (LNG) capabilities and send more supplies to Europe. That potentially positions the oil company to capitalize on the strengthening LNG market.
Chevron has a sizable LNG business. It owns interests in several LNG export facilities around the world, including Gorgon in Australia. It focuses on producing LNG for the Asian market because it has been a big demand driver in recent years.
Source Fool.com
