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Shell’s first half LNG sales drop 13%

GasPowerLNG

29 Jul 2021 07:16

Photo: Shutterstock.com

Photo: Shutterstock.com

London

29 Jul 2021 07:16

(Montel) Royal Dutch Shell’s LNG sales fell 13% year on year to 32.3m tonnes (43.9bcm) in the first half amid maintenance, the Anglo-Dutch company said in its first-half financial results.

Shell’s LNG liquefaction volumes eased 9% year on year in January-June to 15.65m tonnes.

“LNG liquefaction volumes decreased by 9% due to feedgas constraints and higher maintenance activities, partly offset by the restart of production at the Prelude floating LNG operations in Australia,” it said.

It added that third-quarter production and LNG liquefaction volumes would also be impacted by maintenance activities.

The company’s gas unit posted adjusted earnings of USD 3bn over the period, up 21% on the year.

The company’s total adjusted earnings were up 151% to USD 8.8bn.

“Higher realised prices [were] partly offset by lower trading and optimisation margins,” it said.

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