LNG

UK major Shell reported much reduced third-quarter profits of $6.2 billion, lower than the $9.45Bln of profits returned in the same three months of 2022 as natural gas prices dropped, while quarterly sales of liquefied natural gas were still over 16 million tonnes.

Shell signed two long-term LNG sale and purchase agreements for the supply of up to 3.5 million tonnes per annum of LNG from Qatar to the Netherlands while also completing the sale of its interests in the Masela block in Indonesia for an LNG project.