LNG

Marathon Oil Corp. has entered into a five-year firm liquefied natural gas sales agreement with Glencore Energy UK for a portion of its equity natural gas produced from the Alba Field offshore the West African nation of Equatorial Guinea.

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.

Royal Dutch Shell posted a 15 percent fall in overall third-quarter earnings even as liquefied natural gas and pipeline gas earnings rose by 23 percent to almost $2.6 billion and LNG sales volumes for the year so far were more than 54 million tonnes amid gas field ramp-ups in Australia and Trinidad.