Shell’s first-quarter LNG sales up

The Hague-based LNG giant Shell reported a nine percent rise in its liquefied natural gas sales during the first quarter of this year.

Shell sold 19 million tonnes of LNG in the January-March period, compared to 17.51 million tonnes in the same period last year, the company said on Thursday in its quarterly financial report.

Shell’s LNG sales totaled 20.09 million tonnes in the fourth quarter of 2019.

Looking at liquefaction volumes, they rose 2 per cent year-on-year to 8.88 million tonnes but were lower compared to 9.21 million tonnes in the fourth quarter.

Shell said liquefaction volumes were expected to be in the 7.4 – 8.2 million tonnes range for the full year of 2020.

More than 90 percent of the term contracts for LNG sales are oil price linked with a price lag of typically 3 – 6 months, it said.

Shell’s Integrated Gas segment was hit by lower realised LNG, oil and gas prices.

Revenues for the gas segment dropped 17 percent to 2.1 billion, excluding charges of $331 million related to impairments, mainly in Brazil and the USA.

- Advertisements -

Most Popular

DSME cancels order for two LNG carriers

South Korean shipbuilder Daewoo Shipbuilding and Marine Engineering said it had terminated an order for two LNG carriers with...

TotalEnergies to boost LNG investments

France's TotalEnergies, one of the world's largest LNG players, will continue to make big investments in the company's...

MISC charters new LNG carrier duo to ExxonMobil

Malaysia’s MISC, a unit of Petronas, said it would charter two newbuild liquefied natural gas (LNG) carriers to a...

More News Like This

European LNG fueling network continues to expand

European network of liquefied natural gas (LNG) fueling stations continues to grow despite very high prices and is nearing...

Japan’s Inpex inks Abadi LNG deal with Indonesia’s PLN

Japan’s Inpex said it had signed a new memorandum of understanding with Indonesia’s state power company PLN regarding the...

Tellurian says Shell, Vitol LNG supply deals terminated

US LNG firm Tellurian, the developer of the Driftwood LNG export project in Louisiana, said on Friday that its...

LNG Canada pipeline almost 75 percent complete

TC Energy’s Coastal GasLink project, which will supply natural gas to the Shell-led LNG Canada export terminal, continues to...