LNG

June 10 (LNGJ) - Shell plc announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2024 interim dividend, which was put at US$0.344 per ordinary share.

   “Holders of ordinary shares who validly submitted US dollars, euros or pounds sterling currency elections by June 3, 2024 will be entitled to a dividend of US$0.344, €0.3166 or 26.94p per ordinary share, respectively,” said Shell. Euro and pounds sterling dividends payable in cash have been converted from US dollars based on an average of market exchange rates over the three dealing days from June 5 to June 7, 2024.

Shell reported a drop in fourth-quarter and annual profits as oil and gas prices declined from last year while the UK major’s LNG sales increased to over 67 million tonnes for the year.

Shell, the UK-based major and leading liquefied natural gas trader, said it intended to exit joint ventures in Russia including its almost one-third stake in the Sakhalin-II LNG export project in the Russian Far East and the suspended Nord Steam II pipeline project connecting Russia with German via the Baltic Sea.

Royal Dutch Shell reported a drop in second-quarter liquefied natural gas sales as overall earnings also declined from the first three months of 2021 amid healthy cash flows. The performance was one of recovery from the massive losses posted in 2020 because of write-downs in assets.