Shell revealed this in its third-quarter update note on Monday.
The company’s adjusted earnings reached $6.29 billion in the second quarter, a rise of 24 percent compared to the second quarter in 2023, while Shell’s integrated gas segment reported adjusted earnings of about $2.67 billion in the second quarter.
This compares to $2.50 billion in the same period a year ago and $3.68 billion in the prior quarter.
Shell said in the quarterly update that it expects liquefaction volumes to reach about 7.3 – 7.7 million tonnes in the third quarter.
The company previously expected liquefaction volumes to reach about 6.8 – 7.4 million tonnes in the third quarter of 2024 saying the outlook reflects scheduled maintenance across the portfolio.
Shell’s liquefaction volumes decreased to 6.95 million tonnes in the second quarter this year compared to 7.17 million tonnes in the comparable quarter and 7.58 million tonnes in the prior quarter.
The company sold 16.41 million tonnes of LNG in the April-June period, a rise compared to 16.03 million tonnes in the same period last year.
LNG sales dropped 3 percent compared to 16.87 million tonnes in the prior quarter.
Shell expects integrated gas production to reach 920–960 kboe/d in the third quarter, while upstream production is expected to be at 1,740-1,840 kboe/d.
The company previously expected gas production to be between 920 – 980 kboe/d and upstream production to be between 1,580 – 1,780 kboe/d, saying the outlook reflects higher scheduled maintenance across the portfolio.
Shell’s quarterly results are scheduled to be published on October 31, 2024.
Energy News Beat