This story requires a subscription
This includes a single user license.
Shell announced this in its third-quarter update note on Tuesday, but it did not provide further details.
The company’s integrated gas segment reported adjusted earnings of about $1.73 billion in the second quarter.
This compares to $2.67 billion in the same period in 2024 and $2.48 billion in the prior quarter.
Overall, Shell’s adjusted earnings reached $4.26 billion in the second quarter, down compared to $6.29 billion in the comparable quarter last year and $5.58 billion in the prior quarter.
Liquefaction volumes
Shell also said in the quarterly update that it expects liquefaction volumes to reach 7 – 7.4 million tonnes in the third quarter.
The company previously expected liquefaction volumes to reach 6.7 – 7.3 million tonnes in the third quarter.
Shell’s liquefaction of 6.72 million tonnes in the second quarter were lower compared to 6.95 million tonnes in the same quarter last year.
Liquefaction volumes were 2 percent higher compared to 6.60 million tonnes in the first quarter of 2025.
It is worth mentioning here that Shell and its partners in LNG Canada are nearing the launch of the second liquefaction train at the 14 mtpa LNG export plant in Kitimat.
The facility has loaded 15 cargoes to date.
Gas production
Shell expects integrated gas production to reach 910 – 950 kboe/d in the third quarter, while upstream production is expected to be at 1,790 – 1,890 kboe/d.
The company previously expected gas production to be between 910 – 970 kboe/d and upstream production to be between 1,700 – 1,900 kboe/d.
Shell also said that non-cash post tax impairments and provisions of approximately $0.6 billion are expected in the marketing segment due to the Rotterdam HEFA project cancellation.
Shell’s results are scheduled for publication on October 30, 2025.