Shell expects higher LNG trading results in third quarter

LNG giant Shell is expecting higher trading and optimization results for its integrated gas business in the third quarter of this year compared to the previous quarter.

The UK-based firm revealed this in its third-quarter update note on Friday.

Shell’s adjusted earnings reached $5.07 billion in the second quarter, a drop of 55.7 percent compared to $11.47 billion in the year before, while the company’s integrated gas segment reported adjusted earnings of about $2.5 billion in the second quarter.

This compares to $3.75 billion in the same period a year ago and $2.41 billion in the prior quarter for the integrated gas segment.

Shell sold 16.03 million tonnes of LNG in the April-June period, while its liquefaction volumes dropped to 7.17 million tonnes in the second quarter when compared to 7.66 million tonnes in the same quarter last year.

The firm said in the update it expects liquefaction volumes to reach about 6.6-7 million tonnes in the third quarter.

Shell previously expected liquefaction volumes to reach about 6.3-6.9 million tonnes in the third quarter.

Moreover, Shell expects integrated gas production to reach 880–920 kboe/d in the third quarter.

Shell said that the production and liquefaction outlook reflects scheduled maintenance, including Prelude FLNG and Trinidad and Tobago.

Shell plans to publish its quarterly results on November 2.

Most Popular

Venture Global, Petronas seal 20-year LNG SPA

US LNG exporter Venture Global LNG has signed a 20-year LNG supply contract with Malaysian energy giant Petronas for volumes from the CP2 project in Louisiana.

Golden Pass LNG seeks re-export approval

Golden Pass LNG, a joint venture owned by energy giants QatarEnergy and ExxonMobil, is seeking approval from the US DOE to export previously imported LNG from October, as it nears the launch of the first liquefaction train.

TPDC, Energetech Tantel to develop Tanzanian small-scale LNG plant

State-run Tanzania Petroleum Development Corporation has signed a memorandum of understanding with Energetech Tantel to develop what they say is Tanzania's first small-scale LNG plant.

More News Like This

Shell’s LNG Canada to ship second cargo

Shell-led LNG Canada is expected to soon ship the second cargo of liquefied natural gas from the Kitimat facility on the west coast of Canada, according to shipping data.

Shell ships first LNG Canada cargo

LNG giant Shell and its partners have shipped the first cargo produced at the LNG Canada facility in Kitimat, on the west coast of Canada.

Peru LNG shipped five cargoes in June

Peru LNG’s liquefaction plant at Pampa Melchorita has shipped five liquefied natural gas cargoes in June, the same as in the previous month.

Knutsen, Shell name ninth LNG newbuild

Norwegian shipowner Knutsen and UK-based energy giant Shell have named the ninth and final LNG carrier in a series of 174,000-cbm vessels.