Shell Earned $2.4 Billion From LNG Trading in Q4

Shell earned $2.4 billion from LNG trading in the fourth quarter amid strong demand for the fuel ahead of the winter, with LNG trades contributing to almost a third of its Q4 adjusted earnings, Reuters reported on Friday, quoting sources close to the UK-based supermajor. The LNG trading profit for the final quarter of 2023 was among the highest quarterly earnings from LNG in company history, two of Reuters’ sources said. Early this month, Shell reported consensus-beating adjusted earnings of $7.

Shell believes in the long-term demand growth in LNG and will continue to look at LNG and LNG trading as one of the pillars of its business. Last week, Shell published its annual LNG outlook, in which the supermajor expects global LNG demand to surge by 50% by 2040, driven by higher demand from Asia, with coal-to-gas switching in China and a boost in LNG consumption to fuel economic growth in South and Southeast Asia.

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