Shell expects higher liquefaction volumes in Q1

LNG giant Shell is expecting higher liquefaction volumes in the first quarter of this year due to higher uptime at the Prelude FLNG facility and its QGC business.

Shell said in an update on Thursday that it expects first-quarter liquefaction volumes of 7 to 7.4 million tonnes, up from 6.8 million tonnes in the previous quarter.

The firm said in its full-year and fourth-quarter report in February that liquefaction volumes would be about 6.6 to 7.2 million tonnes in the first quarter.

Shell’s liquefaction volumes dropped by 4 percent year-on-year to 29.68 million tonnes in 2022 due to the “derecognition of Sakhalin-related volumes and longer-than-expected maintenance at Prelude and operational issues at QGC in Australia.”

Shell’s QQC operates the 8.5 mtpa QCLNG plant on Curtis Island.

In January this year, Shell shipped the first LNG cargo from its 3.6 mtpa Prelude floating LNG producer offshore Western Australia following a fire in December 2022.

Besides higher liquefaction volumes, Shell expects trading and optimization results for its integrated business to be at “a similar level” compared to the fourth quarter.

Integrated gas production in the first quarter would range between 930,000 and 970,000 barrels of oil equivalent per day, a rise from 917,000 kboe/d in the previous quarter.

Also, Shell expects a pretax depreciation for integrated gas of between $1.2 billion and $1.6 billion in the first quarter.

Shell plans to publish its quarterly results on May 4, 2023.

- Advertisements -

Most Popular

BP, PetroChina book capacity at Dutch Gate LNG terminal

BP and a unit of PetroChina have agreed to book long-term capacity at the Dutch Gate LNG import terminal,...

TotalEnergies releases Mozambique LNG report

French energy giant TotalEnergies on Tuesday released a report regarding the humanitarian situation in the province of Cabo Delgado,...

LNG carrier Golar Gandria sold for demolition

Floating LNG player Golar LNG has sold its 1977-built LNG carrier, Golar Gandria, for demolition, according to brokers. The 125,000-cbm...

More News Like This

Worley lands Shell contract

A unit of LNG giant Shell has awarded Australian engineering firm Worley an enterprise framework agreement to provide services...

Shell to supply first LNG cargo to PetroVietnam Gas

PetroVietnam Gas, a unit of state-owned PetroVietnam, said that its Thi Vai LNG import terminal will receive the first...

First electric tug ready to start serving LNG Canada

HaiSea Marine's first of three electric tugboats which will serve the Shell-led LNG Canada project is on its way...

Shell and Equinor moving forward with giant Tanzania LNG project

Shell and Equinor are expecting to sign a host government agreement and a production sharing agreement for the giant...