LNG

Jan 6 (LNGJ) - Shell Plc has updated its earnings forecast for Integrated Gas and the other divisions and sees lower liquefaction volumes in Australia. Shell said these lower volumes mainly reflected the longer than expected plant outage at the “Prelude FLNG” plant offshore northwest Australia and “operational issues” at the Queensland Curtis LNG export facility.

   Shell’s adjusted earnings in Integrated Gas will see pre-tax depreciation of $1.2 billion to $1.6 billion. Shell added that its Trading and Optimisation earnings in the fourth quarter were “expected to be significantly higher” compared with the third quarter of 2022. In the Upstream division production was expected to be between 1,825 and 1,925 kboe/d.

Shell plc, the largest oil and gas company in Europe, posted adjusted third-quarter earnings of $9.45Bln, more than double the $4.13Bln income from the same quarter of 2021, though 18 percent down on the previous quarter, reflecting lower LNG trading and optimisation results as well as lower chemical and refining margins.

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.