Shell recorded a $5.4bn third quarter profit, beating forecasts, which was largely driven by $12.2bn in cashflow from operations.
CEO Wael Sawan said strong operational delivery drove higher liquefaction volumes, which in turn enabled a higher contribution from LNG trading and optimisation this quarter. Liquefaction volumes rose from 6.7 million tonnes in the second quarter to 7.3 million tonnes in the third, and LNG sales volumes increased from 17.8 million tonnes to 18.9 million tonnes.
The start-up of , where 13 cargoes were delivered from Train 1 in Q3, contributed to growth, and more volumes are expected with the start-up of Train 2 later this quarter.
Adjusted earnings were up $1.2bn quarter-on-quarter.
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