如何解释购买偏向于液化天然气建造周期的液化天然气承包商

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如何解释购买偏向于液化天然气建造周期的液化天然气承包商

2025-6-1

购买偏向于液化天然气建造周期的液化天然气承包商十年中期液化天然气FID 的上升表明液化天然气承包商积压了大量工作。我们认为 25/26 财年的液化天然气 FID 可能达到 1 亿吨/年，而 24 财年仅为 1700 万吨/年。我们看好的与液化天然气主题相关的公司有 Chart Industries （优于大市）和 JGC（中性）、Cheniere Energy 和 Baker Hughes（HTI 未覆盖）。数据来源：Bloomberg, HTI Estimates. Chart shows Global LNG FIDs each year and forecasts from FY25+数据来源：Bloomberg, HTI Research. Chart shows consensus earnings y/y growth for FY25 for selected Global natural gas biased companies (LHS) and absolute share price performance YTD (RHS). All data based on consensusFor full disclosure of risks, valuation methodologies and target price formation on all HTI rated stocks, please refer to the latest full report on our website at equities.htisec.com9egnahc sgninraey/yE42YF80%60%40%20%0%-20%-40%-60%LGIRBKadoyihCLGHAMCEOOCiuhgnauGsehguHrekaBiadnI LIAGyvaeHgnusmaSygrenEnunuKlsaG.seRanhCi40%30%20%10%0%-10%-20%ecnamrofrePDTYPBnoxxEnorvehCygrenENNEdtL sotnaSGNL tenortePllehSGNNNELATOTXEPNICGJedisdooWnaecOahwnaHygrenEerenehCisaGanhCiroulFspillihPoconoCFY24E y/y Earnings ChangeYTD Performance (RHS)

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