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

CEO: DOE’s permit pause will not slow down Cheniere’s LNG expansion plans

US LNG exporting giant Cheniere is going "full steam ahead" with plans to expand its Sabine Pass and Corpus...

Chevron’s LNG carriers to get reliquefaction units

South Korea's HD Hyundai Marine Solution has secured a contract from US energy giant Chevron to install reliquefaction units...

Molgas continues European LNG bunkering expansion

European small-scale LNG player Molgas continues to expand its LNG bunkering business with the completion of its first operations...

More News Like This

Venture Global seeks more time to complete Calcasieu Pass LNG terminal

US LNG exporter Venture Global LNG has requested more time from the US FERC to complete the commissioning of...

Shell: global LNG demand to rise more than 50 percent by 2040

Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50 percent by 2040, as...

Seatrium renews LNG carrier repair deal with GasLog and Shell

Singapore's Seatrium has renewed its long-term favored customer contract with units of Greece's LNG shipping firm GasLog and UK-based...

EIG’s MidOcean buys Peru LNG stake from SK

MidOcean Energy, the LNG unit of US-based energy investor EIG, has purchased a stake in LNG terminal operator Peru...