LNG

UK major Shell expects to take non-cash impairment charges of between $2.5 billion to $4.5Bln for the fourth quarter, mainly related to the Singapore refining and chemicals hub that Shell is seeking to sell off, though quarterly income attributable to shareholders was expected to remain at around $7 billion.

Shell, one of the world’s leading LNG traders with about 64 million tonnes per annum of sales, is increasing its UK offshore activities for its Integrated Gas division by re-submitting an amended environmental statement to the UK Oil and Gas Authority (OGA) for the Jackdaw natural gas and condensate field in the North Sea.

Jan 7 (LNGJ) - Shell has updated its fourth-quarter 2021 earnings outlook and expects a boost from LNG trading. In the Integrated Gas division, including LNG, production was expected to be between 910,000 and 950,000 barrels of oil equivalent per day. LNG liquefaction volumes are expected to be between 7.7 million tonnes and 8.3MT. “Production and liquefaction volumes were impacted by unplanned maintenance, mainly in Australia,” Shell added.

   “Trading and optimisation results in Integrated Gas are expected to be significantly higher compared to the third quarter, overcoming ongoing supply issues and capturing unique optimisation opportunities generated through the large scale and scope of our LNG trading portfolio in the prevailing high LNG spot price environment,” stated Shell.