LNG

Royal Dutch Shell has given an update on its second-quarter outlook with the Integrated Gas division, including LNG, expected to have trading and optimisation results significantly below average and similar to the first quarter of 2021 because of unplanned maintenance at LNG plants.

Singapore, one of the centres of global LNG, oil and energy trading, is following the trial of one of the Asian city state’s leading traders who has just had more than 100 additional charges laid against him.

Royal Dutch Shell reported 6 percent lower liquefied natural gas volume sales in the first quarter, though profits jumped 17 percent in the Integrated Gas Division because of higher prices and earnings from trading.

Royal Dutch Shell said it completed the sale of its 15 percent stake in liquefaction plant three at the Malaysian LNG Bintulu Complex in Sarawak for a net $650 million.

Royal Dutch Shell posted a 17 percent increase in first-quarter sales volumes of liquefied natural gas from its global production assets located in countries such as Australia, Qatar, Nigeria and Peru as higher prices offset a rise in operating costs.

Harvey Gulf International Marine, the US small-scale fleet owner and liquefied natural gas bunkering specialist, has filed for Chapter 11 bankruptcy protection, though the move would not affect LNG operations.

Royal Dutch Shell said the global LNG market has continued to defy expectations with demand growing by 29 million tonnes to 293MT last year, though there was potential for shortages because of a lack of new investment.

Royal Dutch Shell’s Asian trading subsidiary has signed an agreement to purchase the first LNG cargoes from Japan’s newest bi-directional terminal that imports and regasifies shipments and also offers re-loads.