Coterra, Expand Energy could benefit from NY wind deal, says Citi

Citi analyst Scott Gruber says that according to Reuters, the Trump administration has lifted a month-old stop-work order on Empire Wind, a $5B wind farm project off the coast of New York, in a compromise with the state that could also see cancelled plans for a gas pipeline revived. New York Governor Hochul signaled the state won’t block new energy projects, which could eventually facilitate construction of new a pipeline, the analyst tells investors in a research note. Citi says Coterra Energy (CTRA) and Expand Energy (EXE) would benefit from this construction.