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Shell has cut its liquefied natural gas production forecast for the fourth quarter of 2024 and warned that results from its trading business will be lower than in the third quarter.
The UK oil major, the world’s largest LNG trader, trimmed its LNG production guidance for the fourth quarter of 2024 to 6.8mn-7.2mn tonnes, compared with 7.5mn tonnes in the third quarter.
It also said it expects a $1.3bn hit to operating cash flow in the quarter due to the timing of payments for emission certificates in Germany and the US, and that its working capital would be affected by a $1bn payment in Germany for airline fuel duty.
This is a developing story.
