July 7 (LNG) - Shell, whose annual LNG sales amount to almost 70 million tonnes per annum, has updated its earnings forecast for its four divisions for the the second quarter, lowering expectations for LNG and gas trading earnings and with one-off hits from sanctions against Russia. Shell said that in the Integrated Gas division, including LNG, production was expected to be between 930,000 and 980,000 barrels of oil equivalent per day.
“Sakhalin results derecognition is expected to have a negative impact of $300 million to $350M,” it added. “Trading and optimisation results for Integrated Gas are expected to be lower compared to the first quarter 2022, which had exceptional trading optimisation opportunities,” stated Shell. In the adjusted earnings pre-tax depreciation in the division was expected to be between $1.3 billion and $1.5Bln. In the Upstream division, pre-tax depreciation was expected to be between $2.9Bln and $3.3Bln.
