The Hague-based LNG giant Shell on Thursday reported a 2 percent increase in its liquefied natural gas sales in the third quarter.
Shell sold 17.27 million tonnes of the chilled fuel in the third quarter as compared to 16.97 million tonnes in the same quarter in 2017.
In the January-September period, Shell’s LNG sales totaled 53.82 million tonnes, up 10 percent from 48.89 million tonnes the year before.
Shell’s integrated gas segment earned $2.2 billion in the quarter, up 79 percent year-on-year.
Integrated gas earnings excluding impairments of $131 million benefited from higher realised oil, gas and LNG prices, as well as higher trading margins from LNG cargo diversions, Shell said.
This was partly offset by a decrease in production, which was 8 percent lower than in the third quarter 2017, mainly due to higher maintenance activity.
Liquefaction volumes drop
LNG liquefaction volumes were 3 percent lower in the quarter, largely driven by divestments, according to Shell.
These volumes stood at 8.18 million tonnes in the third quarter, as compared to 8.45 million tonnes in 2017.
In the nine-month period, Shell’s liquefaction volumes rose 3 percent on year to 25.54 million tonnes.
Looking forward, Shell said it expects integrated gas production to be 0 – 40 thousand boe/d lower in the fourth quarter, mainly due to divestments.
Liquefaction volumes are expected to be up to 0.3 million tonnes higher, mainly driven by increased feed gas availability and lower maintenance activity, it said.
LNG World News Staff