Leading LNG trader Shell plc will be known as such on the London Stock Exchange from January 25
Shell plc, the leading liquefied natural gas trader with nine-month cargo sales in 2021 of around 48 million tonnes, has now formally changed its name from Royal Dutch Shell and the London Stock Exchange will reflect the change of name on Tuesday, January 25.
Senior Shell executive in Russia Ekaterina Grushetskaya says major would consider joining LNG project
Shell, the global oil and gas major, said it was ready to consider future participation in a new liquefied natural gas project in Russia as the company sees growth potential in supplying more natural gas to satisfy increasing demand in Asia.
LNG player Shell sets out timetable for corporate changes including share issues and first UK board meeting
Royal Dutch Shell, one of the world's leading oil and gas majors and LNG trading companies, has issued a timetable of corporate changes, including the dropping of the word “Royal Dutch” from its title and becoming a UK-based public limited company to be known from the third week in January 2022 as Shell plc.
Shell shareholders vote for ‘Shexit’ as LNG leader will have London HQ and drop ‘Royal Dutch’ from name
Shareholders in Royal Dutch Shell, one of the world’s largest liquefied natural gas traders as well as the owner of huge and valuable upstream and downstream oil and natural gas assets, have voted to overhaul the corporate structure, including moving the headquarters to the UK as well as dropping the “Royal Dutch” from its name while keeping its windmills business in Holland.
Australian energy safety authorities to investigate cause of fire that shut down Shell’s ‘Prelude’ FLNG plant
Australian energy safety authorities will launch an investigation into the cause of a fire that has shut down Shell’s floating liquefied natural gas production vessel, “Prelude”, deployed offshore northwest Australia after an incident in which no one was reported hurt.
Shexit as LNG leader Royal Dutch Shell to exit EU for solely London HQ and drops ‘Royal Dutch’ from name
Royal Dutch Shell, the leading liquefied natural gas trader with nine-month cargo sales in 2021 of around 48 million tonnes, plans to move its corporate headquarters to London from the Netherlands capital The Hague and will drop the words “Royal Dutch” from its name while escaping the European Union.
North America pipeline company TC Energy continues dispute over Coastal GasLink pipeline to LNG Canada
TC Energy, the leading North American pipeline company for oil and gas, said the Coastal GasLink pipeline for LNG Canada in British Columbia continued to increase significantly project costs and completion timetables compared with original schedules.
The costs and completion issues have arisen as a result of scope changes, previous permit delays compared to the original construction schedule and the impacts from Covid-19, including a BC provincial health order.
Coastal GasLink is in dispute with LNG Canada with respect to the recognition of certain costs and the impacts on project schedules.
“Coastal GasLink has sought and will continue to mitigate cost increases and schedule delays and expects incremental costs will be included in the final pipeline tolls, subject to certain conditions,” explained TC Energy.
Construction of the Royal Dutch Shell-led LNG Canada project is 50-percent complete after beginning three ago at the site in Kitimat, 640 kilometres north of Vancouver.
Partners
Shell and its four partners, Mitsubishi Corp. of Japan, Malaysian energy company Petronas, Chinese major PetroChina and Korea Gas Corp., are investing C$40 billion (US$30.2Bln) to build the plant and associated facilities.
The initial two Trains will produce 14 million tonnes per annum of LNG. There is the possibility of expanding the facility to include up to four processing units in the future.
The engineering, procurement and construction contractors are JGC Corp of Japan and Fluor Corp. of the US.
TC Energy, based in Calgary, Alberta-based company reported on the Coastal GasLink pipeline as it also posted third-quarter net income of C$779 million (US$625), or C$0.80 per share, compared with net income of C$904 million, or C$0.96 per share, for the same period in 2020.
“During the first nine months of 2021, our diversified portfolio of essential energy infrastructure assets continued to perform very well and reliably meet North America's growing demand for energy,” said François Poirier, TC Energy’s President and Chief Executive.
“Comparable earnings of $3.21 per common share were 5 percent higher compared to the same period last year while comparable funds generated from operations totaled $5.3 billion,” added Poirier.
“Both amounts reflect the strong performance of our assets and the utility-like nature of our business together with contributions from projects that entered service in 2020 and 2021,” stated the CEO.
TC Energy said it was also in dispute over certain Mexican natural gas pipelines.
The issues concern the Tula and Villa de Reyes pipelines. The Mexican Comisión Federal de Electricidad (CFE) initiated arbitration in June 2019 for the Tula and Villa de Reyes projects, disputing fixed capacity payments due to “force majeure” events.
“Arbitration proceedings are currently suspended through December 31, 2021 while management advances settlement discussions with the CFE,” explained TC Energy.
On the cancelled Canada-US XL oil pipeline from Ontario to the US state of Nebraska, TC Energy has been paying higher interest expense primarily as a result of its cessation of Keystone following the revocation of the Presidential Permit in January 2021.
Shell LNG sales drop along with quarterly profits amid record cash flow and accounting losses for hedging
Royal Dutch Shell reported overall third-quarter profits down 25 percent from the previous quarter as the natural gas division posted a loss blamed on accounting provisions for hedging while liquefied natural gas sales for the year to date plunged 13 percent.
Shell says third-quarter earnings impacted by US hurricane and natural gas trading offset by other issues
Royal Dutch Shell, whose oil and gas operations include more than 60 million tonnes per annum of LNG sales, has warned that its third-quarter earnings would be hit by the impacts of Hurricane Ida in the US Gulf of Mexico and is expected to have an aggregate adverse impact of around $400 million.
Shell’s Egyptian sale
Sept 24 (LNGJ) - Shell, which has operated in Egypt for 110 years, has completed the sale of its upstream assets in the Egyptian Western Desert to a consortium as the Anglo-Dutch company now plans to concentrate on other Egyptian hydrocarbon basins and on its LNG business. The Shell sale was to Egypt-based Cheiron Petroleum Corp. and UK-listed Cairn Energy Plc for $646 million and additional payments of up to $280M between 2021 and 2024, contingent on the oil price and the results of further exploration.
“With this transaction Shell is refocusing its business in Egypt on our existing infrastructure position in the West Delta Deep Marine, the Harmattan Deep Project and exploration acreage in the new seven blocks in the Nile Delta, West Mediterranean and the Red Sea, in our Egyptian LNG (ELNG) joint venture and in Downstream through Shell Lubricants Egypt,” said Shell.
