LNG

Shell has reported adjusted earnings of $10.8 billion for Q2-2026, more than double the $3.6 billion posted a year earlier, as surging LNG and oil trading profits offset a sharp production decline caused by conflict-related disruptions in Qatar.

Egypt is close to sealing a multi-year LNG supply deal that could lock in 15 to 18 cargoes a month for at least three years. Reuters calculations put the deal value at $8-11 billion a year, depending on pricing and volume, with final terms still under negotiation.

Shell has reached financial close on a small-scale LNG regasification terminal in the Bahamas. The project will be built in phases, with the regasified LNG – mostly sourced from Shell’s US LNG offtake – set to support baseload generation at Clifton Pier in excess of 170 MW.

Shell has raised its second-quarter guidance for integrated gas production and LNG liquefaction volumes, while flagging stronger trading performance, as heightened market volatility linked to Middle East tensions supports earnings.

The global fleet of LNG-fuelled could almost double from its current base of 850 ships if scheduled deliveries and orders proceed as expected, Shell told investors, projecting LNG bunkering demand to jump from 3-4 mtpa to about 26 mtpa by 2035.

Global LNG demand could reach nearly 700 million tonnes a year by 2050, a 65% increase from 2025-levels, Shell forecasts, assuming shipping through the Strait of Hormuz returns to normal this summer, before growth resumes in 2027.

Shell has temporarily suspended its $3 billion share buyback programme, citing legal constraints linked to its pending acquisition of ARC Resources. The $16.4 billion deal would expand Shell’s position in the Montney Shale – a key source of feedgas supply for LNG Canada.

Japanese utility Inpex has signed preliminary deals with BP and Shell Eastern Trading, as well as the Indonesian companies PLN Energi and Perusahaan Gas Negara, to offtake LNG from the 9.5 mtpa Abadi liquefaction project. The accords take the project closer to a final investment decision (FID) in 2027.

Shell has won a tender to deliver one LNG cargo to Turkey on behalf of Bulgaria’s state-owned gas supplier Bulgargaz, in a move highlighting Sofia’s reliance on LNG to meet seasonal electricity demand.

The Ksi Lisims LNG project in British Columbia is in advanced discussions with additional offtakers as developers target a final investment decision (FID) on the 12 mtpa floating liquefaction facility on Nisga’a Nation land by the end of this year.