LNG

UK-based major Shell reported better-than-expected earnings to start 2024 despite lower prices and a decline in LNG sales as the natural gas, oil and chemicals trading units all  performed well.

UK major Shell reported much reduced third-quarter profits of $6.2 billion, lower than the $9.45Bln of profits returned in the same three months of 2022 as natural gas prices dropped, while quarterly sales of liquefied natural gas were still over 16 million tonnes.

Royal Dutch Shell, one of the largest LNG and natural gas upstream players, has updated its expectations for first-quarter earnings, including the negative impact of the Texas freeze-up and the effects of spot LNG price volatility and other factors.