The major oli & gas companies in the EU, UK, & USA are...

The major oli & gas companies in the EU, UK, & USA are increasing their investments in LNG, as they state the demand, in the "medium to long term" (maybe up to 20 years?) is likely to be very strong, & highly profitable for them.
Conversely, they also state they will reduce their investments in their renewable energy projects, as many of these these incur significant losses, now, & for the forseeable future; other renewables have very poor profits.

These outlooks bode very well, eventually, for STO.

oilprice.com I. Slab 6.8.24 said

• ". Supermajors are scaling back renewables projects and investments due to poor returns compared to LNG.
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• . Big Oil prioritizes growing its LNG business, seeing strong demand for natural gas in the medium to long term.
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• . Renewables commitments falter as European oil and gas firms focus on energy security amid the energy crisis and skyrocketing prices...

The supermajors continue to bet on LNG while scaling back renewables projects and investments as oil and gas returns continue to trump the poor profits from renewables.

The world’s top international oil andnatural gasfirms are sanctioning new LNG projects and buying stakes in new developments as they see demand for natural gas growing in the medium to long term.

Bound by the pledges to return more cash to shareholders, Big Oil is betting on growing its much more lucrative LNG business than on wind, solar, or biofuels, where returns have been poor for years and haven’t really taken off despite soaring global capacity additions.

In recent years, LNG trading has reaped a lot of profits for the European majors, while nearly all of them have had to take impairment hits on renewables projects in Europe and the U.S".

Big Oil Doubles Down on LNG | OilPrice.com