October 7, 2023 [LNG Prime]- LNG giant Shell is expecting higher trading and optimization results for its integrated gas business in the third quarter of this year compared to the previous quarter.
The UK-based firm revealed this in its third-quarter update note on Friday.
Shell’s adjusted earnings reached $5.07 billion in the second quarter, a drop of 55.7 percent compared to $11.47 billion in the year before, while the company’s integrated gas segment reported adjusted earnings of about $2.5 billion in the second quarter.
This compares to $3.75 billion in the same period a year ago and $2.41 billion in the prior quarter for the integrated gas segment.
Shell sold 16.03 million tonnes of LNG in the April-June period, while its liquefaction volumes dropped to 7.17 million tonnes in the second quarter when compared to 7.66 million tonnes in the same quarter last year.
The firm said in the update it expects liquefaction volumes to reach about 6.6-7 million tonnes in the third quarter.
Shell previously expected liquefaction volumes to reach about 6.3-6.9 million tonnes in the third quarter.
Moreover, Shell expects integrated gas production to reach 880–920 kboe/d in the third quarter.
Shell said that the production and liquefaction outlook reflects scheduled maintenance, including Prelude FLNG and Trinidad and Tobago.
Shell plans to publish its quarterly results on November 2.
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