Natural gas stocks take off following European energy security update

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• Earlier Friday, the President and European allies announced plans to increase US gas exports to Europe; the plan should pave the way for LNG export terminal approvals, and markets are reacting.
• Though new LNG capacity would not impact near-term supply / demand dynamics in the US, implication for long-term gas demand are positive.
• Natural gas is up ~3% in afternoon trading Friday, while natural gas producers like Southwestern (SWN), EQT (EQT) and Range (RRC) are up 10-15% following President's update.
• For Tellurian (TELL), a company looking to get an LNG project off the ground, the update is welcome news; Tellurian (TELL) shares are up ~20% on the day.