LNG

Royal Dutch Shell said LNG sales volumes for the third quarter were 4.97 million tonnes, up 4 percent from the same three months a year ago. LNG sales volumes in the first nine months were 14.71MT compared with 13.99MT in 2011, an increase of 5 percent.

The figures were released in its earnings statement where Shell also confirmed in its earnings statement it acquired the remaining outstanding shares in Gasnor AS of Norway. Shell previously owned 4.1 percent of the shares in the company.

Gasnor is a market leader in Norway in small-scale LNG, supplying LNG as a transport fuel to industrial and marine customers.

"Compared with the third quarter 2011, Upstream earnings excluding identified items benefited from the increased contribution from Integrated Gas, which included an additional dividend from an LNG," Shell said.

In the overall business, Shell's third-quarter earnings, on a current cost of supplies basis,  were down to $6.1 billion compared with $7.2Bln in the same quarter a year ago.

"Shell is driving a long-term and consistent strategy, against a backdrop of volatile energy markets. Our profits pay for substantial investments in new energy supplies, and they pay dividends for our shareholders.

"Our earnings were driven by lower oil and gas prices, and lower chemicals margins, which offset the benefits of our operating performance, underlying growth in oil and gas production, and higher results in Integrated Gas and Oil Products," the company said.